Commodity Intraday Technical Outlook 09 August 2023 - Geojit Financial Services
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
As long as pries stay below $24 weak momentum continue to intact in the coutner. Break above $25.20 is a sign of reversal.
Crude Oil NYMEX
Stiff resistance is placed at $84 which needs to be cleared for continuation of upticks. Else, choppy trading expected the day.
Gold KG Oct
Congested trades inside Rs 58500-60000 levels initially and breaking any of the sides would suggest fresh directional moves.
Silver KG Sep
While below Rs 72000 weak bias may prevail in the counter. A direct rise above Rs 73200 is a sign of recovery rallies.
Crude Oil Aug
Consistent trades above Rs 6900 is needed to extend rallies. Else, choppy trading is on the cards.
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
As prices cleared the support of Rs 730 expect mild weak bias. A direct turn above Rs 740 recovery rallies may be seen.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
Inability to move Rs 218 there are potential upside. A direct drop of which is a sing of sharp liquidation.
Lead Aug
A direct drop below Rs 183 it may extend weakness. Lese, choppy with mild recovery upticks are on the cards.
Aluminium Aug
Stiff support is placed at Rs 198 which if remain hold expect recovery upticks. A direct drop of which is a weak sign.
To Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer