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2024-02-21 09:59:00 am | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 21 February 2024 -Geojit Financial Services

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:

A direct rise above $79 would trigger further rallies. Else, corrective selling pressure is on the cards.

Gold KG Apr:

Choppy trading 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:

Outlook remain choppy with mild negative. However stiff upside obstacle is seen at Rs 6500.

Natural Gas Feb:

As long as Rs 127 remain hold downside expect recovery rallies 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:

Inability to move past Rs 210 there are chances of recovery rallies for the day.

Lead Feb:

Outlook remains on the weaker side as long as prices stay below Rs 180.

Aluminium Feb:

Recovery pullback may extend while prices stay above Rs 199. Immediate downside reversal point is seen at Rs 195.

 

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