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31-01-2024 12:21 PM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 31 January 2024 -Geojit Financial Services

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Gold LBMA Spot:

Prices remain choppy initially. Break below the stiff support of $1990 would trigger liquidation pressure.

Silver LBMA Spot:

Consistency above $23 is required to trigger rallies. Eles, rangebound trades are on the cards.

Crude Oil NYMEX:

Prices needs to sustain above $79 to extend rallies. Else, there are chances of corrective selloffs.

Gold KG Apr:

Consistent trades above Rs 62600 would trigger fresh rallies. Else, weak bias expected the day.

Silver KG Feb:

Unexpected drop below Rs 71000 may see extension of selling pressure. Else, likely for pullback rallies.

Crude Oil Feb:

Stiff resistance is placed at Rs 6500 which needs to be cleared for extending rallies.

Natural Gas Feb:

Liquidation pressure would continue while prices stay below Rs 190.

Copper Feb:

As long as prices stay above Rs 725 it would continue recovery rallies. Break below Rs 716 is a weak sign.

Nickel Feb:l

Expect choppy with thin volume trading in the near future.

Zinc Feb:

Immediate resistance is placed at Rs 230. Break of which would extend rallies.

Lead Feb:

Initial bias would be sideways trade inside Rs 184- 181 levels.

Aluminium Feb:

Break above Rs 206 there are more upside potential. If not, expect to continue choppy trading.

 

 

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