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Published on 16/07/2019 8:54:12 AM | Source: Geojit Financial Services Ltd

Intraday Technical Outlook 16 July 2019 - Geojit Financial

Posted in Commodities Reports| #Commodity Tips #Geojit Financial Services Ltd

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Gold Mini Aug/ LBMA Spot Gold

Technical Commentary

Expect positive bias to continue as long as prices stay above $1380. However, a direct drop below $1360 would negate any bullish exception. Downside reversal point is seen at $1318. Res at $1425/1452.

 

Silver Mini Aug/ LBMA Spot Silver

Technical Commentary

Range bound trading inside $15.50-14.70 levels likely to continue. Breaking any of the sides would suggest fresh direction to the commodity.

 

Copper Jul

Technical Commentary

Positive momentum likely to continue while prices stay above 438. Further weakness is expected only a break of 430.

 

Nickel Jul

Technical Commentary

As long as the support of 925 holds, expect to continue the positive outlook in the counter.

 

Lead Mini Jul

Technical Commentary

Inability to move past 157 expect a mild correction in the counter.

 

Zinc

Technical Commentary

Likely for a mild recovery as prices hold the support of 191. Unexpected drop below the same would extend weakness.

 

Alumini Jul

Technical Commentary

Resistance of 145 needs to be cleared for continuation of upswings. Else may see a weak trading for the day.

 

Crude Oil Jul/ NYMEX Crude

Technical Commentary

While prices stay above 59 likely to continue the upticks. Weakness is seen only a close below $56. Next res at $61.50/63 then 65. MCX support at 3920. Res 4170.

 

Natural Gas Jul

Technical Commentary

If unable to break 166 expect corrective selling the day. A direct rise above the same prices could target 178.

 

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