Commodity Intraday Technical Outlook 22 August 2023 - Geojit Financial Services
Gold LBMA Spot
Immediate support of $1880 if remain undisturbed, expect recovery upticks for the day. A direct drop of which would trigger liquidation pressure.
Silver LBMA Spot
Mild upticks are on the cards initially, as long as the support of $22 hold downside. A direct dip of which is a sign of weakness.
Crude Oil NYMEX
Inability to break above $82 corrective selling pressure would continue the day. Consistent trades above the same would see recovery rallies.
Gold KG Oct
Choppy trading expected initially, but if it break and sustain above Rs 59000 would lift prices higher.
Silver KG Sep
As long as Rs 69200 remains holds, there are chances of mild recovery upticks. A direct drop of which would extend liquidation.
Crude Oil Sep
If Rs 6800 remains caps upside expect weak bias to continue the day. A direct rise above Rs 6900 is sign of reversal.
Natural Gas Aug
As long as the support of Rs 210 hold downside, expect recovery rallies. Unexpected drop of which if a weak signal.
Copper Aug
Further selloffs are expected only a direct dip below Rs 715. Inability to so may see recovery upticks.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
Break below Rs 208 would extend weakness. Else, recovery upticks are on the cards for the day.
Lead Aug
Further selloffs are seen only a break of Rs 182.50. Else, the momentum mostly on the positive side.
Aluminium Aug
Prices remain congested inside Rs 199-195 levels and breaking any of the sides would suggest fresh directional moves.
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