Commodity Intraday Technical Outlook 29 December 2023 - Geojit Financial Services
Gold LBMA Spot
Choppy with mild positive bias expected initially. Immediate downside reversal is seen only below $1990.
Silver LBMA
Spot Inability to move past $24.50 there are chances of corrective selling pressure for the day.
Crude Oil NYMEX
Weak bias remains on the cards initially. Sustained trades above $74 would trigger recovery upticks.
Gold KG Feb
Further rallies are expected only above Rs 63800. Otherwise choppy trading would be seen.
Silver KG Feb
Immediate resistance above Rs 76000 would trigger further rallies. Else, choppy with corrective selloffs expected the day.
Crude Oil
Jan If unable to move past Rs 6300 weak bias would continue the day.
Natural Gas
Jan Likely to see extension of recovery rallies. However, consistent trades below Rs 202 is a weak signal.
Copper Jan
While above Rs 730 would extend rallies. Else, may see corrective selling pressure.
Nickel Jan
Expect choppy with thin volume trading in the near future.
Zinc Jan
Sustained trades above Rs 222 recovery rallies would be seen. Else, weakness may continue the day.
Lead Jan
Weakness may continue while prices stay below Rs 180. A direct rise above Rs 184 could negate the view.
Aluminium Jan
While prices stay above Rs 206 intraday outlook mostly on the positive side. Trend reversal point is placed at Rs 202.
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