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05-12-2023 12:09 PM | Source: Geojit Financial Services Ltd
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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