Commodity Intraday Technical Outlook 13 March 2024 -Geojit Financial Services
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Gold LBMA Spot:
While prices stays above $2090 intraday trend mostly on the positive side.
Silver LBMA Spot:
A direct break above $24.50 would extend bullish rallies. Else, choppy trading is on the cards.
Crude Oil NYMEX:
Prices remains choppy inside $81-76 levels, 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 downside is likely as long as prices stay below Rs 74000.
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:
While prices stay below Rs 145 it may continue bearish outlook for the day.
Copper Mar:
Inability to move past Rs 730 positive outlook remain intact in the counter.
Nickel Mar:
Expect choppy with thin volume trading in the near future.
Zinc Mar:
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:
Consistency above Rs 204 is needed to extend upticks. Else, choppy with mild corrective downside expected.
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