Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 7 February 2024 - By Geojit Financial Services Ltd
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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:
Present recovery moves may strengthen above 6120 region. Whereas, a dip below 6060 may induce weakness as well.
Natural Gas:
MACD Bearish divergence suggest prevalence of weakness. However, prices may strengthen if trades extend above 173 region.
BASE METALS:
Copper:
Corrective moves still possible in the counter. Mild rebound may be seen if 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 216.50 region.
BASE METALS:
Lead:
Mild weakness may be seen. Rebound may sustain above 181.20.
Aluminium:
Rebound may strengthen above 201.70. Else, mild consolidation may be seen.
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