Commodity Intraday Technical Outlook 07 July 2022 - Geojit Financial Services
Gold LBMA Spot
Weak bias to continue while prices stay below the support of $1760. Recovery rallies are seen only a break above $1815.
Silver LBMA Spot
While prices stay below $20.50 bearish outlook to continue the day. Upside turnaround point is placed at $22.50.
Crude Oil NYMEX
Choppy trading is on cards initially. It needs to breaks $95 to trigger further liquidation pressure in the counter.
Gold KG Aug
Recovery bias expected only a break above Rs 51200. Meanwhile, consistent trades below Rs 50200 is a sign of major liquidation.
Silver KG Sep
Broad sentiment remains on the weaker side. Consistent trades above Rs 62000 is a sign of reversal.
Crude Oil Jul
Corrective selling pressure is likely as long as prices stay below Rs 8100. Major upside turnaround point is seen at Rs 8800.
Natural Gas Jul
Choppy trading inside Rs 420-460 expected initially and breaking any of the sides would suggest fresh direction to the commodity.
Copper Jul
While prices stay below Rs 720 would continue selloffs. Else, recovery upticks are on cards.
Nickel Jul
Volume less trades inside Rs 1880-2400 levels likely to continue in near future.
Zinc Jul
As long as prices stay below Rs 296 it may continue weak bias. A direct turn above the same is a recovery sign.
Lead Jul
While prices stay below the stiff support of Rs 178 corrective selloffs may continue the day. Major resistance is seen at Rs 186.
Aluminium Jul
Further selloffs are seen only a break of Rs 202. Inability to do so may see recovery upticks for the day.
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