Commodity Intraday Technical Outlook 10 August 2022 - Geojit Financial Services
Gold LBMA Spot
Prices remain choppy initially. Consistent trades above $1840 is a sing of recovery upticks. Likewise, a direct fall below $1730 is further selling signal.
Silver LBMA Spot
Consistent trades above $20.80 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 $104 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
Further liquidation is seen only a breakoff Rs 57000. Inability to do so may continue the ongoing recovery upticks.
Crude Oil Aug
Expect a choppy trading with mild negative bias initially. However a direct drop below Rs 6950 is a sing of major liquidation.
Natural Gas Aug
Intraday turnaround is possible is prices remain hold the support of Rs 600. Consistency below the same is a sing of liquidation pressure.
Copper Aug
A direct break above Rs 670 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
As long as the support of Rs 305 remain undisturbed expect recovery moves to continue the day. 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
As prices breached the resistance of Rs 215 there are potential upticks. Meanwhile, a direct break of Rs 207 is a sign of weakness.
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