Commodity Intraday Technical Outlook 12 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
Range bound trading expected initially, but a direct break above $23.50 would trigger recovery rallies
Crude Oil NYMEX
Buying momentum would continue if prices stabilise above $75. Inability to do so may see corrective 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
While above Rs 71000 likely to extend buying momentum. A direct dip below Rs 68000 is a sign of major downside reversal.
Crude Oil Jul
As long as the support of Rs 6000 remains holds expect fresh rallies. A direct drop below Rs 5650 is a sign of downside reversal.
Natural Gas Jul
Inability to move past Rs 218 recovery upticks may continue the day. A direct drop below Rs 212 would trigger liquidation pressure.
Copper Jul
Choppy trading remains on the cards. However, 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
A tight range bound trading inside Rs 217-214 is remain possible. Breaking either sides would suggest fresh directional moves.
Lead Jul
Expect a choppy with mild negative bias trading initially. However, break below Rs 180 would see liquidation pressure.
Aluminium Jul
Consistent trades above Rs 196 would extend recovery upticks. Else, there are chances of selling pressure.
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