08-08-2023 10:33 AM | Source: Geojit Financial Services
Commodity Intraday Technical Outlook 08 August 2023 - Geojit Financial Services
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Gold LBMA Spot

If the support of $1900 remains holds, expect mild recovery upticks. Anyhow, break above $1970 is required to extend the positive outlook.

Silver LBMA Spot

Weak bias likely to continue as long as prices stay below $24. Break above $25.20 is a sign of reversal

Crude Oil NYMEX

If unable to move past $84 would see corrective selling pressure. Consistent trades above the same would trigger rallies.

Gold KG Oct

Choppy trades inside Rs 58500-60000 levels initially and breaking any of the sides would suggest fresh directional moves.

Silver KG Sep

As prices cleared the support of Rs 72000 weak bias may prevail in the counter. A direct rise above Rs 73200 is a sign of recovery rallies.

Crude Oil Aug

Intraday outlook most likely mild positive long as the support of Rs 6650 hold downside. Unexpected drop of which would trigger corrective selling.

Natural Gas Aug

Rallies would extend as long as prices stay above Rs 225. Consistent trades below Rs 205 would weaken the outlook.

Copper Aug

Corrective selling pressure would see only a break of Rs 730. Else recovery upticks would continue the day.

Nickel Aug

Expect choppy with thin volume trading in the near future.

Zinc Aug

Consistent trades below Rs 222 would extend corrective selling. Else, upticks would continue the day.

Lead Aug

A direct drop below Rs 183 it may extend weakness. Lese, choppy with mild recovery upticks are on the cards.

Aluminium Aug

Support of Rs 198 remain hold downside, there are chances of extension of upticks. A direct drop of which is a weak sign.

 

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