Commodity Intraday Technical Outlook 21 July 2022 - Geojit Financial Services
Gold LBMA Spot
Recovery upticks are expected only a consistent trades above $1760. Else, weak bias to continue the day.
Silver LBMA Spot
While prices stay below $20.50 bearish outlook to continue in the counter. Upside turnaround point is placed at $22.50.
Crude Oil NYMEX
Inability to move past $103 corrective selloffs likely for the day. However major support of $93 needs to be cleared for triggering major liquidation pressure.
Gold KG Aug
Choppy with mild negative bias expected initially but it required breaking Rs 49800 to continue gains in the counter. Consistent trades below Rs 50200 is a sign of major liquidation.
Silver KG Jul
Inability to move past Rs 56200 liquidation pressure would continue the day. A direct turn above Rs 57400 is a sign of recovery
Crude Oil Jul
Liquidation pressure would continue the day as long as the resistance of Rs 8200 remains caps the upside.
Natural Gas Jul
While prices stay above Rs 610 would extend rallies. Else, intraday momentum is likely to be on the downside.
Copper Jul
Consistent trades above Rs 640 is needed to extend rallies. Else, choppy with mild negative bias trading expected.
Nickel Jul
Volume less trades inside Rs 1880-2400 levels likely to continue in near future.
Zinc Jul
If the support of Rs 270 holds, expect recovery bias for the day. A direct close below the same is a weak sign.
Lead Jul
Choppy with upticks expected as long as the support of Rs 172 hold further downside. A direct drop of which is a sing of weakness.
Aluminium Jul
Break above Rs 212 would extend recovery moves. Inability to do so may see corrective selling pressure for the day.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory