Commodity Intraday Technical Outlook 5 March 2024 -Geojit Financial Services
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Gold LBMA Spot:
While above $2090 it may extend buying pressure. Else, corrective selloffs expected the day.
Silver LBMA Spot:
Prices remain choppy initially and it is required to break above $24 to extend fresh rallies.
Crude Oil NYMEX:
Consistency above $80 would extend rallies. Else, choppy with corrective selloffs are likely the day.
Gold KG Apr:
While above Rs 63500 there are chances of upticks to continue the day.
Silver KG Mar:
As long as Rs 71000 remain undisturbed expect upticks to continue the day.
Crude Oil Mar:
Inability to move past Rs 6700 there are chances of corrective selloffs for the day.
Natural Gas Mar:
If the support of Rs 145 hold downside, recovery rallies would continue.
Copper Mar:
Prices remain choppy 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:
Intraday moves mostly on the positive side as long as it holds the support of Rs 200.
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