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07-08-2022 11:46 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 08 July 2022 - Geojit Financial Services
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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

Choppy with mild negative bias expected initially. It required to break above Rs 51200 for recovery upticks. 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

Upticks seen only a break above Rs 8200. Else, corrective selling pressure will continue the day.

Natural Gas Jul

Upticks to continue only if prices crosses above Rs 505. Else, intraday bias likely to be choppy with mild negative bias.

Copper Jul

Choppy with mild negative bias trading expected. Break above Rs 720 would continue rallies.

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

Recovery upticks expected as long as the support of Rs 205 remains undisturbed. A direct fall below Rs 202 would trigger further liquidation.

 

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