Commodity Intraday Technical Outlook 28 February 2024 -Geojit Financial Services
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Gold LBMA Spot:
It is required to break above $2045 to trigger recovery rallies. Else, choppy with trading expected teh day
Silver LBMA Spot:
Outlook remains bearish as long as prices stay below $23.50.
Crude Oil NYMEX:
Break above $79 would trigger another round of fresh rallies. If not, may see corrective selloffs.
Gold KG Apr:
Inability to move past Rs 62400 there are chances of selling pressure to continue the day.
Silver KG Mar:
Break below Rs 69000 would trigger another round of selling pressure. Else, recovery upticks can be seen today.
Crude Oil Mar:
Choppy trading expected initially. A direct drop of Rs 6300 would see extension of weakness.
Natural Gas Feb:
Upticks likely to extend as long as the support of Rs 133 remain undisturbed.
Copper Mar:
Intraday support is seen at Rs 722 breaking of the same is needed for further correction.
Nickel Mar:
Expect choppy with thin volume trading in the near future.
Zinc Mar:
Inability to move past Rs 210 there are chances of recovery rallies for the day.
Lead Mar:
Bearish outlook remains on the cards as long as prices stay below Rs 180.
Aluminium Mar:
A direct drop below Rs 197 would extend weakness. Else, recovery upticks expected the day.
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