Commodity Intraday Technical Outlook 11 July 2023 - Geojit Financial Services
Gold LBMA Spot
Prices remains choppy inside $1940-1900 levels and breaking any of the sides would suggest fresh short term direction.
Silver LBMA Spot
A direct break above $23.50 would extend recovery upticks. Else, choppy trading is on the cards.
Crude Oil NYMEX
Immediate resistance is seen at $75 which needs to be cleared for continuation of upticks. Inability to move past the same would tigger selling pressure.
Gold KG Aug
Further selloffs are seen only a break of Rs 58000. if unable to break the same prices remain rangebound.
Silver KG Sep
Consistent trades above Rs 71000 likely to extend buying momentum. A direct dip below Rs 68000 is a sign of major downside reversal.
Crude Oil Jul
While prices stay above of Rs 6000 likely to extend rallies. A direct drop below Rs 5650 is a sign of downside reversal.
Natural Gas Jul
Immediate resistance is placed at Rs 224, which if cleared would extend recovery rallies. Unexpected drop Rs 212 would trigger liquidation pressure.
Copper Jul
While prices stay above Rs 720 unticks likely to continue the day. A direct fall below Rs 705 is a sign of weakness.
Nickel Jul
Expect choppy with thin volume trading in the near future.
Zinc Jul
Consistent trades above Rs 216 would extend rallies. Else, choppy trading is likely for the day.
Lead Jul
If the support of Rs 180 remains undisturbed, expect mild recovery upticks. A direct drop of which would trigger further selling pressure.
Aluminium Jul
Expect choppy trading initially. However, a direct rise above Rs 196.50 would extend buying momentum.
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