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08-01-2023 09:24 AM | Source: Geojit Financial Services
Commodity Intraday Technical Outlook 1Aug 2023 - Geojit Financial Services
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Gold LBMA Spot

Choppy trades inside $1970-1940 levels expected initially and breaking any of the sides would suggest fresh directional move for the day.

Silver LBMA Spot

Inability to move past $24 there are chances of upticks to continue the day. A direct drop of which would trigger selling pressure.

Crude Oil NYMEX

Upticks would continue initially but there is stiff resistance is seen at $84. If unable to break the same expect corrective selling pressure.

Gold KG Aug

A direct break above Rs 59600 would lift price higher. Likewise unexpected drop below Rs 58700 would weaken the momentum.

Silver KG Sep

As long as Rs 73000 remains hold downside, there are chances of upticks to continue the day.

Crude Oil Aug

While prices stay above Rs 6300 would continue rallies. Else, choppy trading is on the cards.

Natural Gas Jul

Consistent trades above Rs 225 is required to extend rallies. If not, expect corrective selling pressure for the day.

Copper Aug

Upticks would continue while prices stay above Rs 740. Inability to stable above the seme would see corrective selling pressure.

Nickel Aug

Expect choppy with thin volume trading in the near future.

Zinc Aug

Consistent trades above Rs 222 would extend rallies. Else, there are chances of corrective selling pressure.

Lead Aug

A direct drop below Rs 183 it may extend weakness. Lese, choppy with mild recovery upticks are on the cards.

Aluminium Aug

Mild upticks would continue while prices stay above Rs 198. An unexpected drop below Rs 196 would see corrective selling pressure.

 

 

 

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