Commodity Intraday Technical Outlook 14 August 2023 - Geojit Financial Services
Gold LBMA Spot
Weak bias likely to extend while prices stay below $1920. Consistent trades above $1948 likely to negate the view.
Silver LBMA Spot
As long as prices stay below $23 the more potential downside. Trend reversal point is seen at $24.
Crude Oil NYMEX
Further rallies are seen only above $84. Inability to cross the same would call for selling pressure.
Gold KG Oct
Break below the support of Rs 58500 would extend weakness. Else, a mild recovery move can be seen today.
Silver KG Sep
While below Rs 72000 weak bias may prevail in the counter. A direct rise above Rs 73200 is a sign of recovery rallies.
Crude Oil Aug
Positive outlook likely to continue while the support of Rs 6800 remains undisturbed. Anyhow major resistance is at Rs 7040.
Natural Gas Aug
There are potential upside as long as Rs 224 remain hold downside. Unexpected drop below the same would trigger selling pressure.
Copper Aug
Break above Rs 730 is needed to extend rallies. Else, choppy trading is in the cards.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
While prices stay below Rs 218 weak momentum to continue the day. Consistent trades above Rs 222 is a sign of recovery rallies.
Lead Aug
An unexpected drop below Rs 182.50 would extend selling pressure. Else, choppy trading is on the cards.
Aluminium Aug
As long as prices stay below Rs 200 weak bias to extend the day. Consistent trades above Rs 203 would trigger fresh rallies.
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