Commodity Intraday Technical Outlook 7 March 2024 -Geojit Financial Services
Gold LBMA Spot:
Outlook remains on the positive side while its stays above $2090.
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:
Rallies likely to continue as long as the support of Rs 72800 remain undisturbed.
Crude Oil Mar:
Stiff upside obstacle is seen at Rs 6700, which needs to be cleared for fresh rallies. Else, choppy trading is on the cards.
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:
While above Rs 218 it 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:
Sustained trades above Rs 202 would extend recovery rallies. Else, choppy trading expected the day.
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