Commodity Intraday Technical Outlook 23 August 2022 - Geojit Financial Services
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Gold LBMA Spot
Expect mild recovery upticks for the day. However, short term upside turn around point is placed at $1800.
Silver LBMA Spot
Broad sentiment remains on the weaker side but a mild recovery may be seen in the initial hours. A direct break above $21 would negate the bearish outlook.
Crude Oil NYMEX
Choppy with mild negative bias expected initially. However, consistent trades above $96 would extend upticks.
Gold KG Oct
While prices stay below Rs 51600 weakness likely to continue the day. A direct break above Rs 52700 is a sign of reversal.
Silver KG Sep
While prices stays below the stiff support of Rs 57200 liquidation pressure would continue. Further rallies are seen only a break above Rs 59000.
Crude Oil Sep
A mild upticks can be seen initially. Meanwhile, a direct drop below Rs 6850 would trigger major liquidation pressure.
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
Mild upticks can be seen as long as the support of Rs 660 remains undisturbed. 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. 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.
Aluminium Aug
Intraday bias remains rangebound with mild negative bias. However direct break of the support of Rs 208 would extend weakness.
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