Gold Mini Mar/ LBMA Spot Gold
Liquidation pressure may continue as long as prices stay below the support of $1760. Immediate downside targets are seen at $1670 followed by $1620. A direct turn above $1820 is required to negate the view and take prices higher. Gold mcx Mar: Res at 46450. Sup: 43880.
Silver Mini Apr/ LBMA Spot Silver
Inability to break above $26 intraday bias will be on the downside with supports seen at $25/24 levels. However, a direct break of $23.40 is required to extend the momentum. MCX Silver Apr: Res at Rs 68200. Sup: 63800.
As prices cleared the support of 688 there are chances of continuation of selling momentum. A close above 702 can negate the view and take prices higher.
Weak bias may continue while prices stay below the support of 1230. Anyhow major downside obstacle is placed at 1140.
Expect a choppy with negative trading as long as 168 caps the upside. A direct drop below 160 is an another round of selling signal.
Selloffs may continue the day as prices stay below 220. Immediate trend reversal point is placed at 225.
If 174 remain capped the upside, expect selling pressure to continue the day. A direct turn above 177 is a reversal signal.
MCX Crude Oil Mar/NYMEX Crude Mar
Bullish outlook remain intact as long as $59 hold the downside. Next upside targets are seen at $65/67 immediately followed by $72. A close below $58 is a signal of reversal of the current momentum. MCX Mar: Res at Rs 4820 / Support: Rs 4390.
Natural Gas Mar
If the resistance of 202 remain capped, there are chances of selling pressure for the day. Major resistance is seen at 209.
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