Commodity Intraday Technical Outlook 06 February 2023 - Geojit Financial Services
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.
To Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer