Commodity Intraday Technical Outlook 23 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:
Inability to move past Rs 61300 there are chances of continuation of selling pressure for the day.
Silver KG Mar:
A direct break below Rs 70000 would trigger another round of selling pressure. Else, recovery upticks can be seen today.
Crude Oil Feb:
A direct rise above Rs 6550 would trigger fresh round of buying. If not, weak bias is on the cards.
Natural Gas Feb:
Choppy with mild negative bias trading expected as long as prices stay below Rs 150.
Copper Feb:
Mild recovery upticks expected initially. Further selling pressure seen only below Rs 724.
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:
If unable to break above Rs 201, selling pressure likely to extend the day.
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