Commodity Intraday Technical Outlook 15 February 2024 -Geojit Financial Services
Gold LBMA Spot:
Expect a tight range bound trade for the day. Either side breakout of $2060-2010 would suggest fresh short term directions.
Silver LBMA Spot:
Mild recovery upticks can be seen initially. A direct drop below $22 would trigger another round of liquidation pressure.
Crude Oil NYMEX:
Prices remain choppy initially. Anyhow major rallies expected only above $76.
Gold KG Apr:
Expect weak bias to continue while it stays below 62000.
Silver KG Mar:
Further selloffs expected only below Rs 70300. If unable to break the same would call for recovery rallies.
Crude Oil Feb:
If unable to move past 6350 expect corrective selling pressure for the day. Anyhow, stiff support is placed at 6150.
Natural Gas Feb:
Outlook remains on the weaker side. A direct break above Rs 165 could lift prices higher for the day.
Copper Feb:
Further selloffs seen only below Rs 705. Stiff resistance is placed at Rs 722.
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:
Mild recovery upticks can see initially. Further weakness is only below 199.
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