IGI Logo

Gold Mini Feb/ LBMA Spot Gold

Prices continue with weak bias as it placed below $1860. However, breaking $1764 is required to continue the momentum. A direct break above $1880 could negate the current weak momentum and lift prices higher. MCX GoldM Mar Res: 47450 Support: 46220

Silver Mini Feb/ LBMA Spot Silver

Corrective selloffs are likely as long as prices stay below $28. Anyhow major downside turnaround point is seen at $24. Prices required to break $30 convincingly to continue bullish momentum in the counter. MCX Silver Feb: Res at Rs 71400. Sup: 65320.

Copper Feb

Recovery upticks may continue if prices hold the support of 597. An unexpected drop below the same is a bearish signal.

Nickel Feb

Buying momentum may continue while prices stay above 1290. Anyhow a direct rise above 1340 would trigger major rallies.

Lead Feb

Recovery upticks are likely as long as 159 hold the downside. Next major upside obstacle is seen at 168.

Zinc Feb

As long as the support of 205 remain undisturbed, upside momentum may continue the day. An unexpected drop below 198 is a bearish signal.

Aluminium Feb

Recovery upticks are likely as long as 160 hold the downside. Major upside obstacle is seen at 165.

MCX Crude Oil Feb/NYMEX Crude Mar

Bullish bias to continue while prices stays above $54. Next resistance is seen at $59 followed by $62 levels. However, corrective selloffs are likely only if prices drop below $52.50. A direct break below $49 is a bearish signal. MCX Feb: Res at Rs 4220 / Support: Rs 4010.

Natural Gas Feb

A direct rise above 218 is needed to continue the momentum. Else, there are chances of corrective selling. Major downside reversal point it at 188.

To Read Complete Report & Disclaimer Click Here

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 
SEBI Registration Number: INH200000345

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer