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01-02-2024 10:33 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 1 February 2024 -Geojit Financial Services

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Gold LBMA Spot:

Prices remain choppy initially. Break below the stiff support of $1990 would trigger liquidation pressure

Silver LBMA Spot:

Consistency above $23 is required to trigger rallies. Eles, rangebound trades are on the cards.

Crude Oil NYMEX:

A direct break below $74 would extend selling pressure. Else, it may see mild upticks for the day.

Gold KG Apr:

While prices stay above Rs 62600 there are chances of mild recovery rallies. Else, weak bias expected the day

Silver KG Mar:

Unexpected drop below Rs 71000 may see extension of selling pressure. Else, likely for pullback rallies.

Crude Oil Feb:

Immediate support is seen at Rs 6200 which if cleared would extend selling pressure.

Natural Gas Feb:

Recovery rallies are expected as long as prices stay above Rs 175.

Copper Feb:

While above Rs 725 it would continue recovery rallies. Break below Rs 716 is a weak sign.

Nickel Feb:l

Expect choppy with thin volume trading in the near future.

Zinc Feb:

A direct rise above Rs 230 short term outlook mostly on the positive side. Inability to do so may see choppy trading.

Lead Feb:

Initial bias would be sideways trade inside Rs 184- 181 levels.

Aluminium Feb:

Intraday outlook mostly steady. However, consistent trades above Rs 206 there are more upside potential.

 

 

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