Commodity Intraday Technical Outlook 18 July 2022 - Geojit Financial Services
Gold LBMA Spot
A direct drop below $1660 prices would liquidate further. Else, a slight recovery can be seen today.
Silver LBMA Spot
Choppy trading with negative bias remains on cards but, major selloffs are seen only a break below $17.
Crude Oil NYMEX
Stiff support is seen at $93. If unable to move past the same a turnaround in prices expected. Otherwise it may continue selling pressure.
Gold KG Aug
Expect a range trade inside Rs 49500-51200 levels and breaking any of the sides would suggest fresh directional moves.
Silver KG Jul
Though the broad sentiment remains on the weaker side a mild recovery uptick can be seen if the support of Rs 54000 hold downside.
Crude Oil Jul
Consistent trades above Rs 7800 would extend rallies. Else, there are chances of corrective selling pressure for the day.
Natural Gas Jul
As prices recovered and stable above Rs 512 recovery momentum may continue the day. A direct fall below Rs488 would trigger liquidation pressure.
Copper Jul
If unable to move past the support of Rs600 expect recovery upticks for the day. Else, corrective selloffs would continue.
Nickel Jul
Volume less trades inside Rs 1880-2400 levels likely to continue in near future.
Zinc Jul
Upticks may be seen as the support of Rs 265 remain hold the downside. Anyhow major rallies are seen only a break above Rs 290.
Lead Jul
Choppy trading with mild positive bias in cards. A direct drop below Rs 165 would continue selling pressure.
Aluminium Jul
Stiff support is placed at Rs 200. If unable to break the same would trigger recovery rallies. Else, it may continue weakness.
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