08-08-2022 11:07 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 08 August 2022 - Geojit Financial Services
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Gold LBMA Spot

Choppy with mild upticks expected the day. However consistent trades below $1730 is a corrective selling signal.

Silver LBMA Spot

Break above $20.50 is needed to continue rallies. Else, a range bound with mild selling pressure expected the day.

Crude Oil NYMEX

While prices stay below the support of $93 broad outlook remains on the weaker side. However, a direct rise above recovery rallies are on the cards.

Gold KG Oct

While prices stay above Rs 51200 expect recovery moves to continue the day. Further selloffs are seen only a break of Rs 50400.

Silver KG Sep

Intraday bias largely choppy inside Rs 58800-56500 levels and breaking either sides would suggest fresh directional moves.

Crude Oil Aug

Upticks are likely as long as the support of Rs 6960 remains undisturbed. A direct drop of which would extend liquidation pressure.

Natural Gas Aug

Further rallies are seen only a consistent trades above Rs 655. Inability to do so expect a corrective selloffs for the day.

Copper Aug

A direct break above Rs 660 would extend rallies. Else, selling pressure in on cards for the day.

Nickel Aug

Volume less trades inside Rs 1880-2400 levels likely to continue in near future.

Zinc Aug

Bullish rallies would continue while prices stay above Rs 305. A direct break of Rs 292 would negate the bullish outlook.

Lead Aug

While prices stay above Rs 175 it would extend buying pressure. Else, corrective selloffs for the day.

Aluminium Aug

Prices remain trade in a range of Rs 216-207 levels and breaking either the sides would suggest a fresh direction.

 

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