Commodity Intraday Technical Outlook 8 March 2023 - Geojit Financial Services
Gold LBMA Spot
Selling pressure may continue while prices stay below $1820. Consistent trades above $1862 would trigger rallies.
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
Choppy with mild negative bias expected if prices are unable to move past $81. Break below $74 would extend liquidation pressure.
Gold KG Apr
Intraday outlook likely to continue weak bias as long as it stays below Rs 55500. Rallis above Rs 56600 is required to negate the bearish outlook.
Silver KG May
Inability to moves past Rs 64000 selling pressure would continue thew day. A direct rise above the same would trigger fresh recovery rallies.
Crude Oil Mar
If unable to break above Rs 6600 intraday sentiment mostly on the downside. Anyhow major support is placed at Rs 6150.
Natural Gas Mar
Expect a tight range bound trade inside Rs 210-224 levels initially and breaking any of the sides would suggest fresh directional moves.
Copper Mar
If unable to move past Rs 752 expect selling pressure to continue the day. A direct rise above Rs 760 may extend fresh upticks.
Nickel Mar
Expect choppy with thin volume trading in the near future.
Zinc Mar
Recovery upticks expected only a break above Rs 268. If unable to do the same may see weak bias for the day.
Lead Mar
A direct turn above Rs 183 may extend upticks. Else, there are chances of continuation of selling pressure.
Aluminium Mar
If the support of Rs 205 remains holds there are chances of a mild recovery upticks. A direct fall of which would extend liquidation pressure.
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