Commodity Intraday Technical Outlook 20 February 2024 -Geojit Financial Services
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Gold LBMA Spot:
Weakness is on the cards if unable to move past 2030. Stiff support below $1980 would trigger further liquidation.
Silver LBMA Spot:
Further rallies are seen only above $23.50. If unable to do so may see weakness for the day.
Crude Oil NYMEX:
Consistent trades above $79 would trigger further rallies. Else, corrective selling pressure is on the cards.
Gold KG Apr:
Weakness still on the cards, but if the support of Rs 61500 remain holds expect mild recovery upticks for the day.
Silver KG Mar:
Further selloffs expected only below Rs 70300. If unable to break the same would call for recovery rallies.
Crude Oil Feb:
Break above the immediate resistance of Rs 6500 would extend rallies. Else, weakness would be seen.
Natural Gas Feb:
Broad outlook remain on the weaker side. Break above Rs 142 could lift prices higher for the day.
Copper Feb:
Mild recovery upticks expected initially. Further selling pressure seen only below Rs 700.
Nickel Feb:
Expect choppy with thin volume trading in the near future.
Zinc Feb:
Choppy with mild upticks can see as long as the support of Rs 210 hold downside.
Lead Feb:
Support is seen at Rs 175 which if hold expect mild recovery upticks for the day.
Aluminium Feb:
As long as prices stay below Rs 190 there are chances of selling pressure to continue the day.
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