08-12-2022 01:01 PM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 12 August 2022 - Geojit Financial Services
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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 $21 is needed to continue rallies. Else, a range bound with mild selling pressure expected the day

Crude Oil NYMEX

Choppy with mild corrective is expected initially. However, consistent trades above $93 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

Prices remain choppy inside Rs 60000-57200 levels initially and breaking either sides would suggest fresh directional moves.

Crude Oil Aug

If the support of Rs 7300 holds the downside, expect recovery upticks to continue the day. Consistent trades below Rs 6960 is s sing of weakness.

Natural Gas Aug

Bullish outlook likely to continue while prices stays above Rs 670. Unexpected drop below Rs 620 is a sing of weakness.

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

If unable to break Rs 185 there are chances of selling pressure for the day. Consistent trades above the same would trigger rallies.

Aluminium Aug

Consistent trades above Rs 218 would trigger further rallies in the counter. If unable to do so may see corrective selloffs.

 

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