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Published on 18/08/2022 11:52:34 AM | Source: Geojit Financial Services Ltd

Commodity Intraday Technical Outlook 18 August 2022 - Geojit Financial Services

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Gold LBMA Spot :

Inability to break the support of $1760 there are chances of a mild recovery initially. However, a direct fall below the same would trigger major liquidation.

Silver LBMA Spot :

Upticks expected only a break above $21. Else, range bound with weak bias expected to continue in the counter.

Crude Oil NYMEX:

Inability to move past $96 weak bias to continue the day. However, major support of $85 needs to be cleared for triggering sharp liquidation.

Gold KG Oct:

Intraday bias remains on the weaker side as long as prices stay below Rs 52700. Recovery rallies would seen only a break of the same.

Silver KG Sep:

Consistent trades below the stiff support of Rs 57200 would trigger sharp liquidation pressure. Else, choppy trading expected the day

Crude Oil Aug:

A direct drop below Rs 6800 would trigger major liquidation pressure. Else, there are chances of recovery upticks for the day.

Natural Gas Aug:

Bullish outlook prevails while it says above Rs 690. Meanwhile, consistent trades below Rs 650 is a sign of weakness.

Copper Aug:

Choppy with corrective selloffs expected initially. However, a direct turn above Rs 680 is a sing of recovery uptick.

Nickel Aug:

Volume less trades inside Rs 1880-2400 levels likely to continue in near future.

Zinc Aug-

Intraday bias likely to be on the weaker side as long as Rs 324 caps the upside. A direct turn below Rs 308 is a sign of major weakness.

Lead Aug:

Choppy with mild positive bias expected initially. Consistent trades below Rs 182 is a sing of weakness.

Aluminium Aug:

A direct break of Rs 208 would trigger liquidation pressure. Else, choppy with recovery upticks expected the day.

 

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