Commodity Intraday Technical Outlook 3 March 2023 - Geojit Financial Services
Gold LBMA Spot
A direct break above $1845 is needed to extend rallies. Else, expect a choppy trading session for the day. Silver
LBMA Spot
A congested trade inside $21.50-20.40 levels remains under the radar. Breaking any of the sides would suggest fresh short term directions.
Crude Oil NYMEX
An initial correction expected but if unable to break the support of $75 there are chances of recovery upticks.
Gold KG Apr
A direct break above Rs 56600 is needed to extend rallies. Inability to do so may see corrective selling pressure.
Silver KG May
Inability to moves past Rs 66000 selling pressure would continue the day. A direct rise above the same likely to trigger fresh rallies.
Crude Oil Mar
Further rallies are seen only a break of Rs 6450. Inability to so may see corrective selling pressure. .
Natural Gas Mar
Pullback rallies are expected as long as the support of Rs 222 remains undisturbed. A direct drop below Rs 210 would trigger selling pressure.
Copper Mar
If unable to move past Rs 765 expect selling pressure to continue the day. A direct rise above Rs 780 would lift prices higher.
Nickel Mar
Expect choppy with thin volume trading in the near future.
Zinc Mar
A mild recovery upturn expected as long as Rs 268 restrict further downsides. A direct break above Rs 275 may extend rallies.
Lead Mar
Corrective selling pressure would continue as long as Rs 186 caps the upside.
Aluminium Mar
If Rs 212 remains caps the upside expect selling pressure to continue the day. An unexpected rise above the same would negate the view.
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