Commodity Intraday Technical Outlook 22 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
Choppy with mild negative bias remains on the cards. A direct turn above $22.50 would negate the view and trigger rallies.
Crude Oil NYMEX
A mild pullback can be seen if prices consistently stay above $76. A direct dip below $74 would extend weakness.
Gold KG Apr
Consistent trades above Rs 56600 would extend buying interest. Else, choppy with mild negative bias is likely for the day.
Silver KG Mar
As long as the support of Rs 65500 hold downside, there are chances of recovery upticks but major rallies are unlikely if prices are unable to break above Rs 68000.
Crude Oil Mar
Prices remains congested trade inside Rs 6680-6300 levels initially and breaking any of the sides would suggest fresh directional moves.
Natural Gas Feb
Bearish outlook likely to continue while prices stay below Rs 178. A direct break above Rs 194 could trigger recovery upticks.
Copper Mar
Recovery bias are most likely would take prices higher. A direct break below Rs 775 likely to trigger weakness.
Nickel Mar
Expect choppy with thin volume trading in the near future.
Zinc Mar
If unable to move past Rs 272 there are chances of mild upticks. A direct fall of which would extend weakness.
Lead Mar
While prices stay below Rs186 corrective selling pressure would continue the day. A direct rise above the same would negate the view.
Aluminium Mar
If prices stay above Rs 212 there are chances of mild recovery upticks. Anyhow break above Rs 222 is needed to trigger major rallies.
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