Commodity Intraday Technical Outlook 6 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:
Mild upticks expected initially. A direct drop below $23 could negate the trend.
Crude Oil NYMEX:
Consistency above $80 would extend rallies. Else, choppy with corrective selloffs are likely the day.
Gold KG Apr:
While above Rs 64200 there are chances of upticks to continue the day.
Silver KG May:
As long as Rs 71000 remain undisturbed expect upticks to continue the day.
Crude Oil Mar:
Expect choppy with mild corrective selloffs if prices are unable to move past Rs 6700.
Natural Gas Mar:
Prices remain choppy initially. A direct rise above Rs 165 would extend rallies.
Copper Mar:
Congested trade inside Rs 736-718 levels may remain on the cards. Breaking any of the sides would suggest fresh directions.
Nickel Mar:
Expect choppy with thin volume trading in the near future.
Zinc Mar:
Resistance above Rs 218 would extend rallies. Else, it may see weak bias for the day.
Lead Mar :
Choppy with mild negative bias expected while prices stay below Rs 181.
Aluminium Mar:
Consistent trades above Rs 202 would extend recovery rallies. If not, may see choppy with downside bias trading for the day.
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