Commodity Intraday Technical Outlook 25 August 2022 - Geojit Financial Services
Gold LBMA Spot
Recovery upticks to continue the day. However, short term upside turn around point is placed at $1800.
Silver LBMA Spot
A mild recovery may be seen if $18.50 hold the downside. A direct break above $21 would negate the broad bearish outlook.
Crude Oil NYMEX
As prices stay above $94 there are chances of recovery upticks for day. A direct drop below $85 is a major sign of liquidation pressure.
Gold KG Oct
Expect recovery upticks while prices stay above Rs 51200. However, major resistance is seen at Rs 52700.
Silver KG Sep
If the support of Rs 55000 hold downside expect an upside turnaround for the day. A direct dip below is a sign of major weakness.
Crude Oil Sep
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
Upticks may continue if prices are unable to break the support of Rs 310. However key resistance is seen at R320.
Lead Aug.
Choppy with mild positive bias expected initially. Consistent trades below Rs 182 is a sing of weakness.
Aluminium Aug
Expect a rangebound trading initially. A direct break of the support of Rs 208 is a sign of liquidation pressure.
To Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer