Commodity Intraday Technical Outlook 01 September 2022 - Geojit Financial Services
Gold LBMA Spot
Weak bias to continue while prices stay below $1720. Upside turnaround point is placed at $1770
Silver LBMA Spot
Intraday trend remains on the bearish side as long as it placed below $18.50. Recovery upticks can be seen only a break above $19.80.
Crude Oil NYMEX
Choppy trading expected initially. An unexpected drop below $88 is a sign of major weakness.
Gold KG Oct
Selling pressure may continue while prices stay below the resistance of Rs 51200. Major resistance is seen at Rs 52200.
Silver KG Sep
Expect a gap down opening and would trigger selling pressure the day. Turnaround is expected only above Rs 55000.
Crude Oil Sep
While prices stay below Rs 7200 there are chances of selling pressure to continue the day. A direct rise above Rs 7600 is a turnaround signal.
Natural Gas Sep
Prices remain choppy inside Rs 780-715 and breaking any of the sides would suggest fresh directional moves for the day.
Copper Sep
A direct break below Rs 656 would trigger liquidation pressure. Else, recovery moves expected the day.
Nickel Sep
Volume less trades inside Rs 1720-2250 levels likely to continue in near future.
Zinc Sep
Selling pressure to continue while prices stay below Rs 315. Major resistance is seen at Rs 320.
Lead Sep
Expect weakness in the counter the day. Upticks are seen only a break above Rs 182.
Aluminium Sep
Prices needs to break the support of Rs 206 to trigger further major liquidation. Else, there are chances a choppy trading the day.
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