Commodity Intraday Technical Outlook 8 February 2024 - Geojit Financial Services
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Gold LBMA Spot:
Choppy with weak bias expected the day while prices stay below $2070.
Silver LBMA Spot:
Weak bias would continue but it required to break $22 to trigger major liquidation pressure.
Crude Oil NYMEX:
While 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:
A direct break of Rs 70000 would extend weakness. Else, it may continue weak bias.
Crude Oil Feb:
Mild upticks can be seen as long as the support of Rs 6100 remain undisturbed.
Natural Gas Feb:
Broad outlook remain on the weaker side. Unexpected rise above Rs 180 may see mild recovery rallies.
Copper Feb:
While below Rs 712 weakness would continue the day as well.
Nickel Feb:
Expect choppy with thin volume trading in the near future.
Zinc Feb:
As prices cleared the support of Rs 215 would extend selling pressure.
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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