Intraday Technical Outlook 17 February 2021 - Geojit Financial
Gold Mini Mar/ LBMA Spot Gold
Prices remains choppy inside $1875-1780 levels and breaking any of the sides would suggest fresh direction to the commodity. A direct drop below $1780 would be a short term bearish signal. MCX GoldM Mar Res: 47620 Support: 45810
Silver Mini Feb/ LBMA Spot Silver
Inability to move past $26 there are chances of recovery upticks in the counter. However, it required to break $30 to trigger major rallies. An unexpected decline below $26 is an immediate weak signal. MCX Silver Feb: Res at Rs 70920. Sup: 68100.
Copper Feb
While prices stay above 640 Bullish outlook remain intact in the counter. Meanwhile, a direct drop below 628 is a reversal signal.
Nickel Feb
Bullish rallies may continue as prices cleared the resistance of 1365. A direct turn below 1340 is a reversal signal.
Lead Feb
Prices continue to edge higher as long as it placed above 169. Major downside reversal is seen if it break below 164.
Zinc Feb
Bullish outlook may extend if the support of 214 remain undisturbed. Weakness is seen only a break of 208.
Aluminium Feb
Inability to move past 169 there are chances of corrective selling pressure for the day. A direct surge above the same would extend positive momentum.
MCX Crude Oil Feb/NYMEX Crude Mar
Outlook remain on the positive side while prices stay above $57. Anyhow, major upside obstacles are seen at $60/62 levels. A direct break below $54 is a bearish signal. MCX Feb: Res at Rs 4424 / Support: Rs 4310.
Natural Gas Feb
If the support of 218 remain hold, there are chances of recovery rallies in the counter. A direct drop below 212 may reverse the momentum.
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