Commodity Intraday Technical Outlook 12 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 $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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