Commodity Intraday Technical Outlook 23 February 2023 - Geojit Financial Services
Gold LBMA Spot
Expect a mild pullback if prices are unable to break the support of $1820. An unexpected drop of which would liquidate prices further.
Silver LBMA Spot
A tight rangebound trade inside $22-21 levels can be seen initially. Breaking any of the sides would suggest fresh directional moves.
Crude Oil NYMEX
A direct break of $74 expect further selling pressure. Else, a swift turnaround is expected for the day.
Gold KG Apr
Break above Rs 56600 would see extend buying interest. Else, choppy with mild negative bias is likely for the day.
Silver KG Mar
Further liquidation is seen only a break of Rs 65000. If unable to do the same would call for recovery upticks but unlikely for major rallies.
Crude Oil Mar
A long as prices stay below Rs 6300 weakness remains on the cards. A direct turn above could negate the view.
Natural Gas Mar
Inability to break the support of Rs 177 expect pullback rallies but unlikely for major recovery upticks.
Copper Mar
Prices remains congested inside Rs 788-770 levels and breaking either sides would suggest fresh directional moves.
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
Reversal of the current momentum is seen only a break above Rs 216. Else, choppy with mild negative bias would continue the day.
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