Commodity Intraday Technical Outlook 21 February 2023 - Geojit Financial Services
GOLD LBMA Spot
Inability to move past $1860 likely to extend weakness in the counter. A direct rise above $1900 would negate the view.
Silver LBMA Spot
Sentiment remains 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
Expect choppy with mild negative bias as long as Rs 68000 remains caps the upside. A direct rise above the same would trigger fresh recovery rallies.
Crude Oil Mar
Expect a congested trade inside Rs 6680-6300 levels initially and breaking any of the sides would suggest fresh directional moves.
Natural Gas Feb
Weak bias remains on the cards while 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 780 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
Expect a choppy trading as long as Rs 268 hold the downside. A direct break above Rs 275 may extend rallies.
Lead Feb
While prices stay below Rs186 corrective selling pressure would continue the day. A direct rise above the same would negate the view.
Aluminium Feb
Upticks may continue if prices are unable to move past Rs 210. Anyhow stiff resistance is placed at Rs 222.
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