Commodity Intraday Technical Outlook 4 March 2024 -Geojit Financial Services
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Gold LBMA Spot:
Break above $2090 would trigger next round of buying pressure. Else, corrective selloffs expected the day.
Silver LBMA Spot:
Expect a choppy trade inside $23.50-$21.80 levels and breaking any of the sides would suggest fresh directional moves.
Crude Oil NYMEX:
Positive bias likely to continue the day. A direct drop below $75 there are chances of more selling pressure.
Gold KG Apr:
While above Rs 63500 there are chances of upticks to continue the day.
Silver KG Mar:
If the support of Rs 69000 remain hold downside, expect recovery rallies for the day.
Crude Oil Mar:
While above Rs 6600 intraday move mostly on the positive side. Downside reversal point is seen at Rs 6300.
Natural Gas Mar:
If the support of Rs 145 hold downside, expect recovery rallies for the day.
Copper Mar:
Expect a range bound trade inside Rs 736-718 levels and breaking any of the sides would suggest fresh directions.
Nickel Mar:
Expect choppy with thin volume trading in the near future
Zinc Mar:
Break above Rs 216 would continue fresh rallies. Else, corrective selloffs expected.
Lead Mar:
Choppy with mild negative bias expected while prices stay below Rs 181.
Aluminium Mar:
Further selloffs expected only a break of Rs 199. Else, it may continue upticks for the day.
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