Commodity Intraday Technical Outlook 25 July 2023 - Geojit Financial Services
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Gold LBMA Spot
Expect choppy trades inside $1940-1990 levels with mild negative bias. Breaking any of the sides would suggest fresh short term direction.
Silver LBMA Spot
Break above $25.20 would extend rallies. Else, there are chances of corrective selling pressure.
Crude Oil NYMEX
As long as prices stay above $78 would extend rallies. A direct drop below $75 likely to trigger weakness.
Gold KG Aug
Expect a choppy trade inside Rs 60000-58200 levels and either side breakout would suggest fresh short term direction.
Silver KG Sep
Break above the resistance of Rs 77000 would continue rallies. Else, weak momentum is likely in the cards.
Crude Oil Aug
As long as prices stay above Rs 6300 would continue rallies. Else, choppy trading is on the cards.
Natural Gas Jul
If unable to break above Rs 235 would trigger selling pressure. A direct break above the same may see rallies.
Copper Jul
Inability to move past Rs 735 choppy with mild corrective selling pressure expected the day.
Nickel Jul
Expect choppy with thin volume trading in the near future.
Zinc Jul
While prices stay above Rs 215 expect rallies would continue. Inability to break below 210 is a sign of liquidation.
Lead Jul
Consistent trades above Rs 183 would extend rallies. Else, choppy trading is on the cards.
Aluminium Jul
As long as the support of Rs 195 remains hold downside, expect slight recovery bias for the day.
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