Intraday Technical Outlook 07 February 2022 - Geojit Financial Services
Gold LBMA Spot
Consistent trades above $1815 would trigger further rallies in the counter. Else, a choppy trading is on the cards for the day.
Silver LBMA Spot
Inability to break the support of $21.40 would trigger recovery upticks. A direct drop below the same is a major sign of weakness.
Crude Oil NYMEX
Bullish outlook to continue while prices stays above $88. A close below $86 is a sign of weakness.
Gold KG Apr
Choppy with mild upside bias expected as long as the support of Rs 47200 hold downside. However, major resistance is seen at Rs 49000.
Silver KG Mar
Choppy with corrective selloffs are likely if it unable to move past Rs 62300. A close below Rs 60100 is a major liquidation signal.
Crude Oil Feb
Rallies may continue as long as the support of Rs 6780 remain undisturbed. A direct break below Rs 6200 is a downside reversal signal.
Natural Gas Feb
Expect corrective selloffs if prices are unable to break the resistance of Rs 360. Mmajor support is placed at Rs 318.
Copper Feb
Break above Rs 762 would trigger further rallies. Else, there are chances of choppy with mild negative bias trading.
Nickel Feb
Prices remain choppy inside Rs 1745-1680 levels and breaking either the sides would suggest fresh short term direction.
Zinc Feb
Break above Rs 300 is needed to continue rallies. If unable to do so, choppy trading is on cards for the day.
Lead Feb
Expect weakness to continue while it stays below Rs 186. anyhow major support is seen at Rs 180.
Aluminium Feb
Inability to break the support of Rs 239 more potential upside is on cards. Anyhow major resistance is seen at Rs 250.
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