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12-02-2024 09:50 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 12 February 2024 -Geojit Financial Services

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Gold LBMA Spot:

Intraday bias remains on the weaker side while prices stay below $2070. Stiff support below $2000 would trigger further liquidation.

Silver LBMA Spot:

A direct drop below $22 would trigger another round of liquidation pressure. Immediate upside turnaround point is placed at $23.40.

Crude Oil NYMEX:

Consistent trades above $77 would trigger further rallies. Else, weak bias on the cards.

Gold KG Apr:

Further selloffs expected only below Rs 70300. If unable to break the same would call for recovery rallies.

Silver KG Mar:

Choppy trading expected the day initially. A direct drop below Rs 6150 is a weak sign.

Crude Oil Feb:

Broad outlook remain on the weaker side. Break above Rs 165 could lift prices higher for the day.

Natural Gas Feb:

Broad outlook remain on the weaker side. Break above Rs 165 could lift prices higher for the day.

Copper Feb:

Intraday sentiment likely to extend selling pressure. Anyhow stiff resistance is placed at Rs 722.

Nickel Feb:

Expect choppy with thin volume trading in the near future.

Zinc Feb:

Weak bias likely to continue as long as the resistance of Rs 212 caps upside.

Lead Feb:

Support is seen at Rs 175 which if hold expect mild recovery upticks for the day.

Aluminium Feb:

Further selloffs expected only below Rs 199. Else, mild recovery rallies are possible the day.

 

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