Commodity Intraday Technical Outlook 28 February 2023 - Geojit Financial Services- Geojit Financial Services
Gold LBMA Spot
A direct break below $1800 is needed to trigger another round of selling pressure. Else, expect a mild recovery uptick for the day.
Silver LBMA Spot
Inability to move past $20 expect a choppy with mild recovery bias. Anyhow major upside turn around is seen only above $22.50.
Crude Oil NYMEX
If unable to break and sustain above $77 choppy with weak bias to continue the day. A direct rise above the same may negate the view.
Gold KG Apr
Weak bias likely to continue while prices stay below Rs 56000. A direct break above Rs 56600 could negate the view and take prices higher.
Silver KG May
It is required to beak above Rs 66000 to extend recovery upticks. Else, choppy with negative bias remains on the cards.
Crude Oil Mar
Further selloffs are expected only below Rs 6150. Else, expect to continue the bearish momentum for the day.
Natural Gas Mar
Rallies likely to continue as long as the support of Rs 198 remains undisturbed. Consistent trades below Rs 186 is a sign of weakness.
Copper Mar
If unable to move past Rs 765 expect selling pressure initially. A direct fall below Rs 760 would extend weakness.
Nickel Mar
Expect choppy with thin volume trading in the near future.
Zinc Mar
A mild recovery upturn expected as long as Rs 268 restrict further downsides. A direct break above Rs 275 may extend rallies.
Lead Mar
Corrective selling pressure would continue as long as Rs 186 caps the upside.
Aluminium Mar
Copy with recovery upticks are likely as long as the support of Rs 207 hold the downside
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