06-02-2024 10:10 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 6 February 2024 -Geojit Financial Services

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Gold LBMA Spot:

Weak bias remains on the card while prices stay below $2070. Stiff support below $2000 would trigger further liquidation.

Silver LBMA Spot:

Break below $22 can see another round of liquidation pressure. Immediate upside turnaround point is placed at $23.40.

Crude Oil NYMEX:

Inability to move past $73 intraday outlook remain on the weaker side. 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:

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

Crude Oil Feb:

Liquidation pressure would continue the day. Immediate turnaround point is placed at Rs 6200.

Natural Gas Feb:

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

Copper Feb:

While below Rs 722 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:

As long as prices stay below Rs 181 expect weakness to continue the day.

Aluminium Feb:

Intraday outlook remains choppy with negative. Intraday upside turnaround point is placed at Rs 202.

 

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