Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 6 February 2024 - By Geojit Financial Services Ltd
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BULLION:
GOLD:
A voluminous rebound above 62460 may offer further upside. Extended fall below 61900 region may induce weakness.
Silver:
Corrective dip below 70450 may induce weakness. Holding the same support can induce mild rebounds.
ENERGY:
Crude Oil:
MACD bearish crossover suggest mild weakness in the counter. Rebound may strengthen above 6120 region.
Natural Gas:
MACD Bearish divergence suggest prevalence of weakness. However, prices may strengthen if trades extend above 181 region.
BASE METALS:
Copper:
Corrective moves expected to continue. Mild rebound possible of prices held on any of the support levels.
Nickel:
Lack of volume in the counter
Zinc:
Weakness expected to continue in the day. Rebound may strengthen above 218.30 region.
BASE METALS:
Lead:
Range bound moves with mild weakness may be seen. Rebound may strengthen above 182.40.
Aluminium:
Rebound may strengthen above 201.70. Else, mild consolidation may be seen.
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