Commodity Intraday Technical Outlook 26 July 2023 - Geojit Financial Services
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Gold LBMA Spot
Prices remain rangebound inside $1940-1990 levels with mild negative bias. Breaking any of the sides would suggest fresh short term direction.
Silver LBMA Spot
Inability to break above $25.20 likely to see corrective selling pressure. Else, recovery upticks are on the cards.
Crude Oil NYMEX
A direct break above $80 would extend rallies. Else, there are chances of choppy with mild negative bias trading.
Gold KG Aug
Breaking any of the sides of Rs 60000-58200 levels would set fresh directional move. Inability to break the same prices remain held choppy.
Silver KG Sep
Break above the resistance of Rs 77000 would continue rallies. Else, weak momentum is likely in the cards.
Crude Oil Aug
Consistent trades above Rs 6500 would extend rallies. Else, expect corrective selling pressure for the day.
Natural Gas Jul
As long as Rs 215 remain undisturbed expect recovery upticks. A direct drop of which would liquidate prices further.
Copper Aug
Inability to move past the support of Rs 735 choppy with recovery rallies are expected the day.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
Buying momentum may continue while prices stay above Rs 215. Unexpected drop below Rs 212 is a sign of weakness.
Lead Aug
Consistent trades above Rs 185 is needed to extend rallies. Otherwise choppy with corrective selloffs are in the cards.
Aluminium Aug
If the support of Rs 196 remain holds downside, expect rallies would continue the day as well.
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