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Published on 30/07/2021 12:11:31 PM | Source: Geojit Financial Services Ltd

Intraday Technical Outlook 30 July 2021 - Geojit Financial

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

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Gold Mini Aug/ LBMA Spot Gold

A direct break above the immediate upside obstacle of $1835 is required to continue further upticks for the day. Else, there are chances of corrective selling pressure. MCX GoldM Aug Res: 48650 Support: 46850.

 

Silver Mini Aug/ LBMA Spot

Silver While prices stay above the support of $24.20 chances of recovery upticks are still on the cards. A direct drop below the same is a signal of long liquidation pressure. MCX SilverM Aug: Res at Rs 69200. Sup: 66800.

 

Copper Aug

A range bound trading with mild negative bias expected initially. An unexpected break of 734 is a strong selling signal.

 

Nickel Aug

Bullish outlook to continue while the support of 1480 remain hold the downside. Major turnaround point is seen at 1390.

 

Lead Aug

Weakness likely to continue while prices stay below 179. A direct rise above 181 is a buying signal.

 

Zinc Aug

Bullish outlook would take prices further higher as long as the support of 242 remain undisturbed. Major downside turnaround point is placed at 236.

 

Aluminium Aug

Recovery rallies to continue while prices stay above 201. A close below 199 is a reversal sign.

 

MCX Crude Oil Jul/NYMEX Crude Aug

Recovery upticks are likely while prices stay above $72.5. However, next stiff resistance is seen at $75.50. A direct drop $below 70.50 may negate the view and take price slower, but major liquidation can be seen only a break of $65. MCX Aug: Res at Rs 5520 / Support: Rs 5140.

 

Natural Gas Aug

If the resistance of 302 remain capped, expect corrective selling pressure for the day. Else, recovery rallies are in cards.

 

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