Commodity Intraday Technical Outlook 05 September 2022 - Geojit Financial Services Ltd
Gold LBMA Spot
While prices stay below $1720 expect weak bias to continue the day. Recovery upticks are expected only a break above $1770.
Silver LBMA Spot
If unable to move past $18.50 there are chances of weak bias to continue the day. However, recovery turn around can be seen only a break above $19.80.
Crude Oil NYMEX
Expect a mild positive bias as long as the support of $85 hold the downside. Unexpected drop below $83 is a sign of further liquidatio
Gold KG Oct
Choppy trading expected initially inside Rs 51200- 49800 levels and breaking either the sides would suggest fresh directional moves.
Silver KG Nov
As long as the support of Rs 51800 remains hold expect a recovery upturn for the day. A direct drop below the same would extend weakness.
Crude Oil Sep
A direct drop below Rs 6850 the sign of further liquidation pressure. Else, it may turn higher for the day.
Natural Gas Sep
IF the support or Rs 715 hold downside, there are chances of recovery upturn for the day. A direct fall below Rs 705 is liquidation signal.
Copper Sep
Expect a choppy with mild positive bias for the day. Further weakness is seen only a close below Rs 630.
Nickel Sep
Volume less trades inside Rs 1720-2250 levels likely to continue in near future.
Zinc Sep
Further selloffs are seen only a break of Rs 280. Inability to do so may see recovery upturn for the day.
Lead Sep
Choppy trading remains on the cards for the day. Upticks are seen only a break above Rs
Aluminium Sep
Range bound trade inside Rs 201-206 levels expected initially and breaking either sides would suggest fresh directions.
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