Commodity Intraday Technical Outlook 17 August 2022 - Geojit Financial Services
Gold LBMA Spot
Inability to break the support of $1770 there are chances of a mild recovery initially. However, a direct fall below the same would trigger major liquidation.
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 $88. 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
Weak bias would continue as long as prices stay below the support of Rs 6900. Break above Rs 7500 is a upside turnaround point.
Natural Gas Aug
Prices remain bullish while it says above Rs 690. Meanwhile, consistent trades below Rs 650 is a sign of weakness.
Copper Aug
Choppy with corrective selloffs 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
There are chances of mild uptick if it remain hold the support of Rs 318. However, 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
Prices remain range bound with mild negative bias initially. Unexpected rallies above Rs 215 is a sign of recovery rallies.
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