Commodity Intraday Technical Outlook 25 January 2024 - Geojit Financial Services
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Gold LBMA Spot:
Break below the stiff support of $1990 would trigger liquidation pressure. Else, recovery rallies are on the cards.
Silver LBMA Spot:
If the support of $22.50 remain hold expect choppy with recovery upticks.
Crude Oil NYMEX:
A direct rise above $76 may extend rallies. Else, mild correction would be seen.
Gold KG Apr:
Break below Rs 61800 expect corrective selling pressure. Else, there are chances of a recovery rally.
Silver KG Feb:
A direct drop below Rs 71000 may see extension of selling pressure. Else, pullback rallies are expected.
Crude Oil Feb:
Prices remain choppy trade inside Rs 6200-5800 levels and breaking any of the sides would call for fresh directions.
Natural Gas Feb:
Likely for an initial recovery pullback as long as the support of Rs 185 remain undisturbed.
Copper Feb:
Recovery upticks may continue while the support of Rs 725 hold downside. A direct drop of which would liquidate prices further.
Nickel Feb:l
Expect choppy with thin volume trading in the near future.
Zinc Feb:
A direct fall below Rs 222 may see further weakness. Else, recovery upticks expected.
Lead Feb:
Sideways trade is most likely inside Rs 184-181 levels for the day. Any of the side breakout would suggest fresh directional moves.
Aluminium Feb:
Likely to extend pullback rallies as long as the support of Rs 198 remain undisturbed.
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