Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 14 February 2024 - Geojit Financial Services Ltd
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Gold
Bearish Divergence in MACD lines suggest weakness to continue in the counter. Any rebound could sustain only above 61500 region.
Silver
Weakness may extend below 69000 region . Whereas, holding the same support may induce mild rebound.
ENERGY
Crude Oil
MACD Bullish divergence suggest further uptrend. However, dip below 6420 may induce mild correction.
Natural Gas
MACD Bearish divergence suggest weakness may continue further. Holding any of the support may induce mild pullbacks.
BASE METALS
Copper
Extended gains above 710 may strengthen the momentum. Inability to clear the same may call for choppy to weak trades.
Nickel
Lack of volume in the counter.
Zinc
MACD Bearish divergence suggest prevalence of weakness. However, further weakness expected only below trend line support of 204.30. Else, mild rebounds may be seen.
Lead
Rebound may strengthen above 177.50 region. Else, mild consolidation may be seen.
Aluminium
Range bound moves expected. Weakness may extend below 199, whereas a rebound above 202.60 may strengthen the prices as well.
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