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2024-03-12 09:15:21 am | Source: Geojit Financial Services
Commodity Intraday Technical Outlook 12 March 2024 -Geojit Financial Services

Gold LBMA Spot:

Bullish outlook remain intact in the counter as long as its stays above $2090.

Silver LBMA Spot:

A direct break above $24.50 would extend bullish rallies. Else, choppy trading is on the cards.

Crude Oil NYMEX:

Expect a tight range bound trade inside $81-76 levels initially and breaking any of the sides would suggest fresh directional moves.

Gold KG Apr:

Bullish outlook remains on the cards. Immediate downside reversal point is seen at Rs 64200.

Silver KG May:

Rangebound with mild upticks are likely as long as the support of Rs 72800 remain undisturbed.

Crude Oil Mar:

Choppy trading expected as long as prices stay below Rs 6500. Stiff upside obstacle is seen at Rs 6700.

Natural Gas Mar:

Break below the support of Rs 145 would extend weak bias in the counter.

Copper Mar:

Support of Rs 724 if remain hold, intraday bias mostly on the positive side.

Nickel Mar:

Expect choppy with thin volume trading in the near future.

Zinc Ma:

Consistent trades above Rs 222 would extend rallies. Lese, choppy trading is expected the day.

Lead Mar:

If prices stays above Rs 181 it may extend rallies. Else, choppy with corrective selling pressure is likely.

Aluminium Mar:

Choppy trading expected initially. A direct rise above Rs 204 would trigger major rallies.

 

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