Commodity Intraday Technical Outlook 5 December 2023 - Geojit Financial Services Ltd
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Gold LBMA Spot
Choppy with mild corrective selloffs expected initially. Anyhow broad trend remains on the positive side as long as it stays above $1990.
Silver LBMA Spot
It required to break above $25.20 to continue rallies. Else, likely see choppy momentum for the day.
Crude Oil NYMEX
Weakness would continue while it stays below $74. Immediate turnaround point is placed at $78.
Gold KG Feb
Choppy with corrective selloffs are likely for the day. Anyhow downside reversal point is placed at Rs 62000.
Silver KG Feb
Weak bias may extend the initially, but an unexpected turn above Rs 77200 could negate the trend.
Crude Oil Dec
Consistency below Rs 6100 would further weaken the sentiment. Else, recovery upticks are possible the day.
Natural Gas Dec
Inability to break Rs 240 there are chances of selling pressure to continue the day. Otherwise mild recovery can be seen today.
Copper Dec
Consistent trades above Rs 725 expect rallies. If not there are chances of selling pressure.
Nickel Dec
Expect choppy with thin volume trading in the near future.
Zinc Dec
If prices sustain above Rs 224 there are chances of recovery rallies. Else, weakness may continue the day.
Lead Dec
Weak bias may extend as long as prices stay below Rs 188.
Aluminium Dec
Inability to move past Rs 203 short term trend remains on the weaker side. Eles, recovery rallies are possible.
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