Commodity Intraday Technical Outlook 22 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 extension of weak bias.
Crude Oil NYMEX:
It most likely to trade inside $80-75 region and breaking any of the sides would suggest fresh directions.
Gold KG Apr:
Expect range bound trade with mild negative bias initially.
Silver KG Mar:
Selloffs would extend if prices clear the support of Rs 70300. If unable to break the same would call for recovery rallies.
Crude Oil Feb:
Outlook remain choppy initially. 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 716.
Nickel Feb:
Expect choppy with thin volume trading in the near future.
Zinc Feb:
As long as the support of Rs 210 holds, there are chances of recovery rallies for the day.
Lead Feb:
Recovery bias can be seen while the support of Rs 179 remain undisturbed for the day.
Aluminium Feb:
Intraday resistance is placed at Rs 202 which needs to be cleared for extending rallies.
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