Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 16 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
Prices may appear firmer above 71600 region. Whereas, fall below the support of 70860 may induce mild weakness.
ENERGY
Prices may appear firmer above 6470 region. Whereas, a dip below 6320 weaken prices as well.
Natural Gas
MACD Bearish divergence suggest weakness may continue further. Holding any of the support may induce mild rebounds.
BASE METALS
Copper
Extended gains above 721 may further strengthen the prices. Inability to clear the same may induce mild consolidation.
Nickel
Lack of volume in the counter
Zinc
Voluminous trades above 213 region may strengthen prices further. Inability to move above the same may induce corrective moves.
Lead
Prices may further strengthen above 179.10 region. Else, mild correction may be seen.
Aluminium
Weakness may extend if prices dip below 199, whereas a rebound above 202.60 may strengthen the prices as well.
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