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02-02-2023 11:02 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 02 February 2023 - Geojit Financial Services
News By Tags | #473 #4943

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Gold LBMA Spot

Recovery upticks may continue while the support of $1940 remains undisturbed. Meanwhile, consistent trades below $1900 would correct prices lower.

Silver LBMA Spot

Consistent trades above $24.50 would trigger further rallies. Else, expect a choppy trading for the day.

Crude Oil NYMEX

Choppy with mild upticks expected while the support of $76 remains undisturbed. A direct drop of which would liquidate prices further.

Gold KG Feb

Upticks would continue while prices stay above Rs 56600. A direct drop of which is a sign of weakness.

Silver KG Mar

Breaking any of the sides of Rs 66500-70000 levels is needed to suggest fresh short term direction.

Crude Oil Feb

Choppy trading expected initially. However consistent trades below Rs 6200 prices would liquidate further.

Natural Gas Jan

Liquidation pressure may continue while prices stay below Rs 220. A direct turn above Rs 235 would extend recovery upticks.

Copper Feb

Mild upticks can be seen in the initial hours. However a direct break of Rs 770 would correct prices lower.

Nickel Feb

Expect choppy with thin volume trading in the near future.

Zinc Feb

Consistent trades above Rs 300 would extend rallies. Else, corrective selling pressure is on the cards.

Lead Feb

Choppy with mild negative bias expected as long as prices stay below Rs 189.

Aluminium Feb

Outlook remains on the positive side while the support of Rs 220 remains undisturbed. A direct drop of Rs 210 is a sign of weakness.

 

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