Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 23 February 2024 - Geojit Financial Services Ltd
Gold
MACD Convergence suggest range bound moves. Corrective dips may occur if prices dip below 61300. Whereas, holding the same can induce mild rebounds as well.
Silver
Mild weakness may be seen if prices dip below 71500 region. Whereas, holding the same support may induce rebounds. Major weakness can be expected only below 70480.
Crude Oil
Extended gains above 6540 may offer further upside. Whereas, a dip below 6400 may induce mild weakness.
Natural Gas
Sustained trades above 146 may extend recovery moves. Else, mild corrective move is possible to witness if prices dip below the same range.
BASE METALS
Copper
Corrective moves possible as long as trades sustain below 730. Major upside can be expected only if prices break above the trend line resistance at 735 region.
Nickel
Lack of volume in the counter.
Zinc
Extended dip below 211.20 may weaken the prices. Holding the same support can induce mild rebounds as well.
Lead
Prices may weaken below 179 region, whereas a rebound above 181.10 may induce mild positivity.
Aluminium
Mild Weakness may be seen. Whereas, a rebound may sustain only above 199.50 region.
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