Commodity Intraday Technical Outlook 06 July 2022 - Geojit Financial Services
Gold LBMA Spot
Weak bias to continue initially. However, if it breaks above $1815 could negate the view and take prices higher.
Silver LBMA Spot
Intraday bias remains on the weaker side. A direct turn above $22.50 is a sign of reversal of the current momentum.
Crude Oil NYMEX
Inability to move past $107 there are more selling pressure is on the cards. However stiff support is seen at $97.
Gold KG Aug
Further rallies are seen only a break above Rs 5200. Else, corrective selling pressure would continue the day.
Silver KG Sep
Broad sentiment remains on the weaker side. Consistent trades above Rs 62000 is a sign of reversal.
Crude Oil Jul
Consistent trades above Rs 8800 would extend rallies. Else, there are chances of corrective selling pressure to continue the day.
Natural Gas Jul
A mild recovery expected initially but it needs to sustain above Rs 470 to continue rallies. Inability to do so may trigger further weakness.
Copper Jul
While prices stay below Rs 670 would continue selloffs. Consistent trades above there are chances of recovery upticks.
Nickel Jul
Volume less trades inside Rs 1880-2400 levels likely to continue in near future.
Zinc Jul
Upticks may be seen as the support of Rs 265 hold the downside. Anyhow, recovery rallies are seen only a break above Rs 290.
Lead Jul
If unable to break the support of Rs 173 there are potential upticks for the day. Else, recovery upticks is on the cards.
Aluminium Jul
Break below Rs 202.50 would extend liquidation pressure. Lese, there are chance of a upturn for the day.
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