Commodity Intraday Technical Outlook 20 February 2023 - Geojit Financial Services
Gold LBMA Spot
As long as prices stay below $1860 likely to extend weakness in the counter. A direct rise above $1900 would negate the view.
Silver LBMA Spot
Intraday sentiment probably choppy with mild negative bias. A direct turn above $22.50 would negate the view and trigger rallies.
Crude Oil NYMEX
Pullback rallies can be seen only if prices consistently trades above $78. A direct dip below $74 would extend weakness.
Gold KG Apr
Prices remains choppy initially. However, a direct break above Rs 56600 may extend the buying momentum.
Silver KG Mar
Selling pressure may continue if prices are unable to break above Rs 68000. A direct rise above the same would trigger fresh recovery rallies.
Crude Oil Mar
A direct turn above Rs 6400 there are chances of recovery upticks. Inability to do so may extend weak bias.
Natural Gas Feb
Bearish momentum would continue as long as prices stay below Rs 194. It has to break above Rs 215 to negate the momentum and take prices higher.
Copper Feb
If unable to move past Rs 776 expect selling pressure initially. A direct fall below Rs 760 would extend weakness.
Nickel Feb
Expect choppy with thin volume trading in the near future.
Zinc Feb
A mild recovery upturn expected as longa s Rs 268 restrict further downsides. A direct break above Rs 275 may extend rallies.
Lead Feb
Corrective selling pressure would continue as long as Rs186 caps the upside.
Aluminium Feb
If unable to break the support of Rs 210 expect upside recoveries for the day. Consistent trades eblwo the same would extend weakness.
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...