Commodity Intraday Technical Outlook 14 February 2024 -Geojit Financial Services
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Gold LBMA Spot:
Prices likely to congest inside $2065-2009 levels and breaking any of the sides would suggest fresh directions.
Silver LBMA Spot:
Further selloffs expected only below $22. Else, there are chances of mild recovery upticks
Crude Oil NYMEX:
A direct rise above $79 would trigger bullish rallies. Else, choppy trades are on the cards.
Gold KG Apr:
If the support of Rs 62000 remain holds expect mild recovery upticks for the day.
Silver KG Mar:
Stiff support at Rs 69800, which if broken would extend selling pressure.
Crude Oil Feb:
Prices remain on the positive side as long as it holds the support of 6250. Downside reversal point is seen at 5900.
Natural Gas Feb:
Broad outlook remain on the weaker side. Break above Rs 148 could lift prices higher for the day
Copper Feb:
Further selling pressure seen only below Rs 705. Else, mild recovery can be seen today.
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:
Expect choppy with negative bias trading as long as prices stay below Rs 181.
Aluminium Feb:
Choppy trading expected initially. Anyhow, major selloffs expected only below Rs 199.
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