09-02-2022 12:18 PM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 02 September 2022 - Geojit Financial Services
News By Tags | #473 #4943

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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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