Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 27 February 2024 - Geojit Financial Services Ltd
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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 prevail if prices dip below 70730 region. Whereas, holding the same support may induce rebounds. Major weakness can be expected only below 70480.
Crude Oil
Sturdy gains above 6490 may offer further upside. Unable to break above the same resistance could induce mild correction.
Natural Gas
Dip below 144 may induce mild weakness for the day. Recovery upticks may gather momentum above 154.
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 gains above 216.50 may strengthen the prices. Whereas, holding the same resistance can induce mild correction.
Lead
A steady rebound above 180 may induce mild positivity. While, weakness may seen below 178.30 region.
Aluminium
Rebound may sustain only above 199.50 region. Dip below 197.10 may induce weakness.
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