Commodity Intraday Technical Outlook 12 July 2022 - Geojit Financial Services
Gold LBMA Spot
Expect a choppy trading initially. Consistent trades above $1745 would continue recovery upticks.
Silver LBMA Spot
While prices stay below $20.50 bearish outlook to continue the day. Upside turnaround point is placed at $22.50.
Crude Oil NYMEX
Inability to move past $105 selling pressure to continue the day. A direct rise above the same would take prices higher.
Gold KG Aug
Choppy with mild negative bias expected initially. It required to break above Rs 51200 for recovery upticks. Consistent trades below Rs 50200 is a sign of major liquidation.
Silver KG Sep
Broad sentiment remains on the weaker side. Consistent trades above Rs 62000 is a sign of reversal.
Crude Oil Jul
If unable to break above Rs 8500 there are chance of selling pressure to continue the day. Else, recovery moves can be seen.
Natural Gas Jul
While prices stay above Rs 505 upticks to cotinine the day. Else, selling pressure in on the cards.
Copper Jul
Choppy with mild negative bias trading expected. Break above Rs 720 would continue rallies.
Nickel Jul
Volume less trades inside Rs 1880-2400 levels likely to continue in near future.
Zinc Jul
As long as prices stay below Rs 296 it may continue weak bias. A direct turn above the same is a recovery sign.
Lead Jul
If unable to move past the support of Rs 172 recovery upticks expected the day. A direct fall below the same would trigger liquidation pressure.
Aluminium Jul
Recovery upticks expected as long as the support of Rs 204 remains undisturbed. A direct fall below Rs 202 would trigger further liquidation.
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