Intraday Technical Outlook 09 February 2021 - Geojit Financial
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Gold Mini Mar/ LBMA Spot Gold
While prices stay above $1800 there are chances of recovery upticks for the day. However, breaking $1870 is required to continue the momentum. A direct drop below $1790 could negate the momentum and take prices lower. MCX GoldM Mar Res: 47840 Support: 46220
Silver Mini Feb/ LBMA Spot Silver
Choppy with mild positive bias 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
If the support of 608 remain undisturbed, bullish outlook would extend further in the counter. An unexpected drop 598 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
Immediate resistance of 212 is required to be cleared for more rallies in the counter. Else, corrective selloffs are likely for the day
Aluminium Feb
Positive outlook remain intact as long as 160 hold the downside. Major upside obstacle is seen at 166.
MCX Crude Oil Feb/NYMEX Crude Mar
Bullish outlook will remain intact and the momentum may 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 4330 / Support: Rs 4180.
Natural Gas Feb
Inability to break the support of 208 intraday momentum will be on the positive side initially. Meanwhile, it required to break 218 to continue the trend. Major downside reversal point it at 188.
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