Commodity Intraday Technical Outlook 04 July 2023 - Geojit Financial Services
Gold LBMA Spot
A direct rise above $1940 is needed to extend recovery upticks. Else, choppy with mild negative bias trading expected the day.
Silver LBMA Spot
Consistent trades above $23 would lift price further higher. Otherwise choppy trading is on the cards.
Crude Oil NYMEX
Sustained trades above $72 is a sign of recovery upticks. Inability to do so may see corrective selling pressure.
Gold KG Aug
As long as the support of Rs 57500 hold downside, expect recovery momentum. A direct dip below the same would trigger major liquidation pressure.
Silver KG Sep
Break above the resistance of Rs 71000 is needed to trigger recovery upticks. Else, it may continue weak trades for the day.
Crude Oil Jul
If unable to move past the resistance of Rs 228 there are chances of corrective selling pressure. A direct rise of which would extend rallies.
Natural Gas Jul
If unable to move past the resistance of Rs 228 there are chances of corrective selling pressure. A direct rise of which would extend rallies.
Copper Jul
As long as prices stay above Rs 715 would extend rallies. Unexpected drop below Rs 700 is a sign of major liquidation
Nickel Jul
Expect choppy with thin volume trading in the near future.
Zinc Jul
Consistent trades above Rs 215 would extend rallies. Else, choppy trading is likely for the day.
Lead Jul
Inability to break the support of Rs 180 there are chances of recovery upticks.
Aluminium Jul
Expect weak bias if prices are unable to break resistance of Rs 198. A direct drop below Rs 194 would extend liquidation pressure.
To Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer