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05-02-2024 10:01 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 5 February 2024 -Geojit Financial Services

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Gold LBMA Spot:

While prices stay below $2070 there are more chances for weakness in the counter. Anyhow stiff support is seen at $2000.

Silver LBMA Spot:

A direct break below $22 would trigger another round of liquidation pressure. Immediate upside turnaround point is placed at $23.40.

Crude Oil NYMEX:

Weakness would extend if prices stay below $72. Immediate resistance is seen at $76.

Gold KG Apr:

Choppy with mild negative bias expected. Immediate upside turnaround point is at Rs 63000.

Silver KG Mar:

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

Crude Oil Feb:

While below the support of Rs 6200 would extend weak momentum. Intraday stiff resistance is seen at Rs 6200.

Natural Gas Feb:

If the support Rs 172 remain holds, expect mild recovery upticks for the day.

Copper Feb:

It is required to break Rs 730 to extend rallies. If not expect weak bias for the day.

Nickel Feb:

Expect choppy with thin volume trading in the near future.

Zinc Feb:

If the support of Rs 216 remain hold, expect mild recovery upticks for the day.

Lead Feb:

Prices remain range bound inside Rs 184-181 levels and breaking either sides would suggest fresh directions.

Aluminium Feb:

Corrective selling pressure initially expected. However stiff support is seen at Rs 200.

 

 

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