Commodity Intraday Technical Outlook 02 September 2022 - Geojit Financial Services
Gold LBMA Spot
Range bound with weak bias expected initially. However a direct turn above $1720 may extend recovery moves
Silver LBMA Spot
Broad outlook remains on the weaker side. However inability to break the support of $17.40 there are chances of mild recovery.
Crude Oil NYMEX
A mild upturn is expected if prices are unable to break the support of $85. A direct fall below the same is a sign of major weakness.
Gold KG Oct
Further selloffs are seen only a break below Rs 49950. Else, choppy with mild recovery bias is on the cards for the day.
Silver KG Dec
Intraday support of Rs 52500 likely to hold the downside and may call for recovery rallies. A direct break of which would extend liquidation moves
Crude Oil Sep
A direct break of Rs 6800 would extend selling pressure. Else, there are chances of recovery upticks for the day.
Natural Gas Sep
If the resistance of Rs 760 caps upside, expect selling pressure to continue the day. However, major support is placed at 702.
Copper Sep
Consistent trades below Rs 635 may extend weakness. Else, there are chances of recovery upticks for the day
Nickel Sep
Volume less trades inside Rs 1720-2250 levels likely to continue in near future.
Zinc Sep
Liquidation pressure may continue the day while prices stay below Rs 295. Upside turnaround point is placed at Rs 305.
Lead Sep
If the support of Rs 174 hold downside, expect recovery upticks. A direct fall below the same is a sign of weakness.
Aluminium Sep
A direct break of Rs 202 would extend liquidation pressure. Else, turnaround rallies expected the day.
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