Commodity Intraday Technical Outlook 2 February 2024 -Geojit Financial Services
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Gold LBMA Spot:
A direct rise above $2070 possibly extend upticks. Else, there are chances of choppy trading for the day.
Silver LBMA Spot:
Consistency above $23.50 is required to trigger rallies. Eles, rangebound trades are on the cards.
Crude Oil NYMEX:
Expect choppy with mild weakness to continue as long as prices stay below $75. Anyhow stiff support is placed at $72.
Gold KG Apr:
Consistent trades above Rs 62600 would trigger fresh rallies. Else, weak bias expected the day.
Silver KG Feb:
Unexpected drop below Rs 71000 may see extension of selling pressure. Else, likely for pullback rallies.
Crude Oil Feb:
If prices break the support of Rs 6200 would extend weak momentum. Otherwise there are chances of recovery upticks.
Natural Gas Feb:
Liquidation pressure would continue while prices stay below Rs 175.
Copper Feb:
It is required to break Rs 730 to extend rallies. If not expect weak bias for the day.
Nickel Feb:l
Expect choppy with thin volume trading in the near future.
Zinc Feb:
Immediate resistance is placed at Rs 225. Break of which would extend rallies.
Lead Feb:
Initial bias would be sideways trade inside Rs 184- 181 levels.
Aluminium Feb:
Choppy with mild negative bias expected. A direct drop below Rs 200 would liquidate prices further.
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
