02-06-2023 12:52 PM | Source: Geojit Financial Services
Commodity Intraday Technical Outlook 06 February 2023 - Geojit Financial Services
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Gold LBMA Spot

Inability to move past $1900 expect choppy trading for the day. Consistent trades above $1940 is needed to trigger fresh rallies.

Silver LBMA Spot

As long as prices stay below $22.50 expect weak bias to continue the day. A direct rise above $24.50 could negate the view.

Crude Oil NYMEX

If the support of $72 holds, expect mild recovery upticks for the day. A direct dip below $70 is a major liquidation signal.

Gold KG Apr

Expect choppy trading initially. Anyhow, if unable to move past Rs 56600 recovery moves can be seen today.

Silver KG Mar

A direct break below Rs 66500 would continue selling pressure. Break above Rs 71000 is a sign of reversal.

Crude Oil Feb

While prices stay below Rs 6200 would extend selling pressure. Else, recovery upticks can be seen today.

Natural Gas Feb

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

Copper Feb

Mild negative bias expected initially. However, it required to break Rs 760 for reversal of the trend.

Nickel Feb

Expect choppy with thin volume trading in the near future.

Zinc Feb

If unable to cross above Rs 290 expect selling pressure to continue the day.

Lead Feb

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

Aluminium Feb

A direct break of Rs 222 would extend selling pressure. Else, expect mild recovery upticks for the day.

 

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