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2024-02-07 12:35:58 pm | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 7 February 2024 -Geojit Financial Services

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:

It is required to break $22 to see another round of liquidation pressure. Immediate upside turnaround point is placed at $23.40.

Crude Oil NYMEX:

Consistent trades above $73 intraday bias mostly on the positive side. Immediate downside reversal point is placed at $71.

Gold KG Apr:

If the support of Rs 62000 remain holds expect mild recovery upticks for the day.

Silver KG Mar:

As long as Rs 70300 hold downside expect recovery rallies. Else, it may continue weak bias.

Crude Oil Feb:

A direct dip below Rs 6000 would extend liquidation pressure. Else, recovery rallies possible

Natural Gas Feb:

Broad outlook remain on the weaker side. Unexpected rise above Rs 180 may see mild recovery rallies.

Copper Feb:

If the support of Rs 715 hold, there are chances of mild recovery. Anyhow stiff resistance is placed at Rs 722.

Nickel Feb:

Expect choppy with thin volume trading in the near future.

Zinc Feb:

If the support of Rs 216 remain h

Lead Feb:

Expect choppy with negative bias trading as long as prices stay below Rs 181.

Aluminium Feb:

Further selloffs expected only below Rs 199. Else, mild recovery rallies are possible the day.

 

 

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