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29-01-2024 10:50 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 29 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:

Support of $22.50 may remain hold and see recovery upticks.

Crude Oil NYMEX:

While above $76 intraday momentum mostly on the positive side. A direct drop below $72 is a weak signal.

Gold KG Apr:

Break below Rs 61800 expect corrective selling pressure. Else, there are chances of a recovery rally.

Silver KG Feb:

Unexpected drop below Rs 71000 may see extension of selling pressure. Else, pullback rallies are expected.

Crude Oil Feb:

Upticks would continue while prices stay above Rs 6200. Immediate downside reversal point is seen at Rs 5800.

Natural Gas Feb:

Recovery pullbacks expected as long as the support of Rs 210 hold downside.

Copper Feb:

While above Rs 725 expect to continue recovery rallies. Break below Rs 716 is a weak sign.

Nickel Feb:l

Expect choppy with thin volume trading in the near future.

Zinc Feb:

Immediate resistance is placed at Rs 230. Break of which would extend rallies.

Lead Feb:

Expect sideways trade inside Rs 184-181 levels for the day.

Aluminium Feb:

Mild positive bias expected as long as prices stay above Rs 198. Further liquidation expected only below Rs 196.

 

 

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