Intraday Technical Outlook 24 February 2021 - Geojit Financial
Gold Mini Mar/ LBMA Spot Gold
Recovery upticks may continue while it hold the stiff support of $1760. Anyhow, major resistance is placed at $1870. An unexpected drop below $1755 would be an early signal of major selling pressure. MCX GoldM Mar Res: 47450 Support: 45300
Silver Mini Apr/ LBMA Spot Silver
If prices stay above $26 positive bias to continue the day as well. A direct fall below $24 could negate the outlook and take prices lower. MCX Silver Apr: Res at Rs 72800. Sup: 68400.
Copper Mar
Bullish rallies may extend as long as 685 hold the downside. Immediate reversal point is seen at 640.
Nickel Mar
Corrective selloffs are likely if 1440 remains caps the upside. Downside reversal point is placed at 1340.
Lead Mar
If 174 continue to restrict upside moves, expect selling pressure for the day. An unexpected rise above the same would trigger rallies.
Zinc Mar
Inability to move past 228 there are chances of corrective selling for the day. A direct lift above 232 would trigger further rallies.
Aluminium Mar
Prices required to break 174 to extend the bullish outlook. Else, prices may correct lower for the day.
MCX Crude Oil Mar/NYMEX Crude Mar
Bullish outlook remain intact as it hold the downside support of $62. Anyhow, next major upside objects are seen at $64 followed by 67 levels. A direct drop below $57 is a reversal signal. MCX Mar: Res at Rs 4570 / Support: Rs 4340.
Natural Gas Feb
If 218 remain caps the upside expect corrective selling pressure for the day. Further rallies are seen only a break of 223.
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