Commodity Intraday Technical Outlook 21 July 2023 - Geojit Financial Services
Gold LBMA Spot
Break above $1990 is needed to extend rallies. Else, there are chances of corrective selling pressure for the day.
Silver LBMA Spot
Choppy trading with mild upticks expected as long as $24.50 hold downside. A direct dip below $24 would trigger selling pressure.
Crude Oil NYMEX
As long as $73.50 remain undisturbed expect recovery upticks to continue the day. Break below $71 would tigger liquidation pressure.
Gold KG Aug
Immediate support is seen at Rs 59200 which if holds ongoing upticks would continue 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
Expect a congested trade inside Rs 6300-6100 levels and breaking any of the sides would suggest fresh short term directions.
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
If Rs 195 remains hold downside, expect slight recovery bias for the day. Unexpected drop below the same would extend weakness.
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