07-04-2023 09:19 AM | Source: Geojit Financial Services
Commodity Intraday Technical Outlook 04 July 2023 - Geojit Financial Services
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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.

 

 

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