Commodity Intraday Technical Outlook 20 July 2023 - Geojit Financial Services
Gold LBMA Spot
Prices needs to break above $1990 ti extend rallies. Else, there are chances of corrective selling pressure for the day.
Silver LBMA Spot
As long as $24.50 hold downside, intraday bias mostly on the positive side..
Crude Oil NYMEX
Expect a choppy trading initially. However, a direct rise above $74 would extend the positive trend. Break below $71 would tigger liquidation pressure.
Gold KG Aug
As long as prices stay above Rs 59500 would continue positive bias. Else, choppy trades expected the day.
Silver KG Sep
If the support of Rs 73000 remains undisturbed expect choppy with positive bias. Consistent trades below the same would trigger liquidation.
Crude Oil Jul
Consistent trade above the resistance of Rs 6300 would continue rallies. Else, choppy trading is on the cards.
Natural Gas Jul
Prices remain range inside Rs 208-220 levels and breaking any of the sides would suggest fresh directional moves.
Copper Jul
Upticks are expected only a break above Rs 725. A direct fall below Rs 718 is a sign of weakness.
Nickel Jul
Expect choppy with thin volume trading in the near future.
Zinc Jul
Expect choppy with mild negative bias initially. A direct rise above Rs 217 would extend rallies.
Lead Jul
Consistent trades above Rs 183 would extend rallies. Else, choppy trading is on the cards.
Aluminium Jul
As long as Rs 195 remains hold downside, expect slight recovery bias for the day. Else, it may continue selling pressure.
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