Commodity Intraday Technical Outlook 16 August 2022 - Geojit Financial Services
Gold LBMA Spot
If unable to surpass the resistance of $1800 weak bias to continue the day. Consistent trades above the same would negate the view and take prices higher.
Silver LBMA Spot
Upticks expected only a break above $21. Else, intraday moves likely to be on the downside.
Crude Oil NYMEX
Liquidation pressure would continue if prices sustain below $86. However, consistent trades above $93 would trigger recovery rallies.
Gold KG Oct
Weak bias may continue as long as prices stay below Rs 52700. Recovery rallies would seen only a break of the same.
Silver KG Sep
Consistent trades below the stiff support of Rs 57200 would trigger sharp liquidation pressure. Else, choppy trading expected the day.
Crude Oil Aug
Expect weakness initially, but if it break Rs 6900 would see major liquidation pressure. Break above Rs 7500 is a upside turnaround point.
Natural Gas Aug
Positive bias most likely to continue while pries stay above Rs 680. An unexpected drop below Rs 660 is a sign of weakness.
Copper Aug
Corrective selloffs are expected initially. However, a direct turn above Rs 680 is a sing of recovery uptick.
Nickel Aug
Volume less trades inside Rs 1880-2400 levels likely to continue in near future.
Zinc Aug
Intraday outlook remain choppy with mild positive initially. A direct turn below Rs 308 is a sign of weakness.
Lead Aug
Choppy with mild positive bias expected initially. Consistent trades below Rs 182 is a sing of weakness
Aluminium Aug
Weak bias to continue initially. Unexpected rallies above Rs 215 is a recovery signal.
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