Commodity Intraday Technical Outlook 9 March 2023 - Geojit Financial Services
Gold LBMA Spot
A direct rise above $1845 expect recovery rallies. Else, it may continue with weak bias for the day.
LBMA Spot
Choppy with negative bias remains on the cards. A direct turn above $21.40 could negate the view and take prices higher.
Crude Oil NYMEX
If the support of $76 hold downside there are chances of recovery upticks. Else, weak momentum remains expected the day
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
Break above Rs 66000 would trigger rallies. Else, negative bias trading expected the day.
Crude Oil Mar
Intraday resistance is placed at Rs 6400 which is required to break for continuation of recovery upticks. Else, negative outlook remains in the cards.
Natural Gas Mar
Expect a choppy trading initially but it required to break above Rs 222 to trigger fresh short covering rallies.
Copper Mar
Inability 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
Further selloffs are seen only a break of Rs 260. Else, there are chances of a recovery upticks for the day.
Lead Mar
As long as prices stay below Rs 186 likely to extend selling pressure.
Aluminium Mar
A direct rise above Rs 212 is needed to negate the present weak outlook and take prices higher. Else, expect choppy with negative outlook for the day.
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