Commodity Intraday Technical Outlook 19 February 2024 -Geojit Financial Services
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Gold LBMA Spot:
Consistent trades above $2025 would extend upticks for the day. Else, weak bias remain on the cards.
Silver LBMA Spot:
A break above the stiff resistance of $22.50 would trigger further rallies. Inability to do so may see weakness for the day.
Crude Oil NYMEX:
Resistance is seen at $80 which needs to be cleared for further rallies. Else, may see weakness in the counter.
Gold KG Apr:
Consistent trades above Rs 62000 would see extension of rallies. If not corrective selloffs expected.
Silver KG Mar:
Intraday resistance is placed at Rs 72500, clearing of which may see further rallies. Else, weakness for the day.
Crude Oil Feb:
As long as prices stay above Rs 6500 would see extension of rallies. Otherwise there are chances of corrective selling.
Natural Gas Feb:
Broad outlook remain on the weaker side. Break above Rs 135 could lift prices higher for the day.
Copper Feb:
While above Rs 725 choppy with mild positive momentum expected the day.
Nickel Feb:
Expect choppy with thin volume trading in the near future.
Zinc Feb:
Recovery upticks are on the cards while it stays above Rs 211.
Lead Feb:
Expect choppy with negative bias trading as long as prices stay below Rs 181.
Aluminium Feb:
Further selloffs expected only below Rs 199. Else, mild recovery rallies are possible the day.
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