Commodity Intraday Technical Outlook 11 August 2022 - Geojit Financial Services
Gold LBMA Spot
Consistent trades below $1780 likely to trigger weakness for the day. A direct rise above $1800 may extend rallies.
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 $103 would trigger recovery rallies.
Gold KG Oct
Inability to move past Rs 52700 there are chances of corrective selling pressure. Recovery rallies would seen only a break of the same.
Silver KG Sep
Intraday bias largely choppy inside Rs 60000-57200 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
Intraday outlook continue to be on the positive side as long as the support of Rs 600 remains hold the downside.
Copper Aug
While prices stays 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
Inability to consistent above Rs 185 there are chances of selling pressure for the day. Consistent trades above the same would trigger rallies.
Aluminium Aug
Prices remain congested inside Rs 218-207 levels and breaking either the sides would suggest a fresh direction.
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