Commodity Intraday Technical Outlook 13 February 2024 -Geojit Financial Services
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Gold LBMA Spot:
Weakness is on the cards while prices stay below $2070. Stiff support below $2000 would trigger further liquidation.
Silver LBMA Spot:
Choppy trades expected initially. However, a direct drop below $22 would trigger another round of liquidation pressure.
Crude Oil NYMEX:
Consistent trades above $77 would trigger further rallies. Else, weak bias on the cards.
Gold KG Apr:
Weakness still on the cards, but if the support of Rs 62000 remain holds expect mild recovery upticks for the day.
Silver KG Mar:
Further selloffs expected only below Rs 70300. If unable to break the same would call for recovery rallies.
Crude Oil Feb:
Choppy with mild upticks expected the day initially. A direct drop below Rs 6150 is a weak sign.
Natural Gas Feb:
Broad outlook remain on the weaker side. Break above Rs 165 could lift prices higher for the day.
Copper Feb:
Further selling pressure seen only below Rs 700. Else, mild upticks are on the cards.
Nickel Feb:
Expect choppy with thin volume trading in the near future.
Zinc Feb:
Broad outlook remains on the weaker side as long as prices stay below Rs 212.
Lead Feb:
Support is seen at Rs 175 which if hold expect mild recovery upticks for the day.
Aluminium Feb:
If unable to break the support of Rs 199 there are chances of recovery upticks for the day.
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