Commodity Intraday Technical Outlook 22 December 2023 - Geojit Financial Services
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Gold LBMA Spot
Choppy with mild positive bias expected initially. Immediate downside reversal is seen only below $1990.
Silver LBMA Spot
Intraday outlook remains positive as long as $23.50 hold downside. Further weakness is seen only below $23.50.
Crude Oil NYMEX
Expect mild recovery rallies initially. An unexpected drop below $70 is a sign of weakness.
Gold KG Feb
Consistent trades above Rs 62600 would extend rallies. If not, may see corrective selloffs for the day.
Silver KG Feb
Immediate resistance above Rs 75800 needs to be cleared for trigger fresh rallies. Break below Rs 72500 is a sign of weakness.
Crude Oil Dec
Break above Rs 6300 would extend rallies. Else, may see corrective selloffs.
Natural Gas Dec
Mild positive bias expected the day. Anyhow, consistent trades below Rs 202 is a weak signal.
Copper Dec
A direct rise above Rs 730 needs for extending rallies. Else, may see corrective selling pressure.
Nickel Dec
Expect choppy with thin volume trading in the near future.
Zinc Dec
If prices sustain above Rs 222 there are chances of recovery rallies. Else, weakness may continue the day
Lead Dec
Weakness may continue while prices stay below Rs 180. A direct rise above Rs 184 could negate the view.
Aluminium Dec
It needs to sustain above Rs 203 to extend rallies. Else, may see choppy with negative bias trading
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