Intraday Technical Outlook 07 March 2022 - Geojit Financial Services
Gold LBMA Spot
Bullish outlook remain intact if the support of $1920 restrict further downside moves. Meanwhile, consistent trades below $1880 would negate the view.
Silver LBMA Spot
While prices stays above $25.60 expect rallies to continue the day. Otherwise choppy trading is on cards . Trend reversal point is seen at $23.
Crude Oil NYMEX
Outlook remain bullish with prices having potential to create new highs. Breaking the immediate support of $105 would call for a technical correction.
Gold KG Apr
Bullish rallies would continue as long as prices stays above Rs 52000. Downside turnaround point is seen at Rs 49200
Silver KG Mar
Prices continue to trade higher as long as the support of Rs 66000 remain undisturbed. A close below Rs 61500 is an immediate reversal signal.
Crude Oil Mar
Expect a sharp gap up opening and prices may move further highs. Immediate downside reversal level is seen at Rs 7800.
Natural Gas Mar
While prices stays above Rs 375 it may continue rallies. A direct close below Rs 325 is a corrective selling signal.
Copper Mar
Inability to break the support of Rs 820 bullish outlook remain intact. A close below 792 is a sign of weakness.
Nickel Mar
Sharp gap up opening expect and more potential upside for the day. A direct drop below Rs 1920 would see corrective selling pressure.
Zinc Mar
Bullish rallies to continue while prices stays above Rs 315. However, a direct drop below Rs 304 is an immediate sign of weakness.
Lead Mar
Expect a choppy trade inside Rs 192-187 levels with mild negative bias.
Aluminium Mar
Gap up expected and bullish rallies would continue the day. Weakness is seen only a close below Rs 304.
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