Commodity Intraday Technical Outlook 12 March 2024 -Geojit Financial Services
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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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