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2024-02-19 11:20:33 am | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 19 February 2024 -Geojit Financial Services

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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