Commodity Intraday Technical Outlook 1 March 2023 - Geojit Financial Services
Gold LBMA Spot
A direct break above $1845 would push prices higher. Else, likely to extend weakness in the counter.
Silver LBMA Spot
A mild recovery upticks can be seen while prices stay above $20. Anyhow major turn around point is seen at $22.50.
Crude Oil NYMEX
If unable to break the support of $74 intraday momentum likely to be on the positive side. Anyhow stiff resistance is placed at $79.
Gold KG Apr
Recovery upticks can be seen initially but it has to break and sustain above Rs 56600 to extend the momentum.
Silver KG Mar
It is required to sustain above Rs 66000 to trigger fresh rallies. Else, choppy trend remains on the cards.
Crude Oil Mar
As long as the support of Rs 6150 hold, expect recovery upticks to continue the day. Inability to do so may extend weak bias.
Natural Gas Mar
Recovery rallies are possible as longas the support of Rs 198 remains undisturbed. Consistent trades below Rs 186 is a sign of weakness.
Copper Mar
Expect a volatile trade inside Rs 778-752 levels and breaking either sides would suggest fresh directional moves.
Nickel Mar
Expect choppy with thin volume trading in the near future.
Zinc Mar
A mild recovery upturn expected as long as Rs 264 restrict further downsides. A direct break above Rs 275 is needed to trigger rallies.
Lead Mar
Corrective selling pressure would continue as long as Rs 186 caps the upside.
Aluminium Mar
As long as the support of Rs 205 remains undisturbed expect recovery upticks. A direct fall of while would trigger another round of liquidation.
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
Tag News
We anticipate immense potential benefits from the upcoming Sovereign Gold Bond Tranche in FY...