Commodity Intraday Technical Outlook 22 August 2022 - Geojit Financial Services
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Gold LBMA Spot
Weak bias remains on the counter. However, short term turn around point is placed at $1800.
Silver LBMA Spot
Weakness to continue initially. It may required to break above $21 to negate the view and take pries higher.
Crude Oil NYMEX
Weakness likely to continue if prices are unable to move past $96.However, major support of $85 needs to be cleared for triggering sharp liquidation.
Gold KG Oct
Intraday bias remains on the weaker side as long as prices stay below Rs 52700. Recovery rallies would seen only a break of the same
Silver KG Sep
As prices stay below the stiff support of Rs 57200 would trigger sharp liquidation pressure. Further rallies are seen only a break above Rs 59000.
Crude Oil Sep
A direct drop below Rs 6850 would trigger major liquidation pressure. Else, there are chances of recovery upticks for the day.
Natural Gas Aug
Bullish outlook would continue while it says above Rs 690. Meanwhile, consistent trades below Rs 650 is a sign of weakness.
Copper Aug Expect
recovery upticks as prices hold the support of Rs 660. A direct break of which would trigger selling pressure.
Nickel Aug
Volume less trades inside Rs 1880-2400 levels likely to continue in near future.
Zinc Aug
Inability to move past Rs 310 there ae chances of recovery upticks. A direct break of which would continue selling pressure.
Lead Aug
Choppy with mild positive bias expected initially. Consistent trades below Rs 182 is a sing of weakness.
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