Commodity Intraday Technical Outlook 21 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:
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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