Commodity Intraday Technical Outlook 27 July 2022 - Geojit Financial Services
Gold LBMA Spot
Choppy with mild negative bias expected initially. Recovery upticks are likely only a consistent trades above $1760.
Silver LBMA Spot
A direct drop below $18 would trigger further selling pressure for the day. Else, there are chances of recovery upticks.
Crude Oil NYMEX
Immediate and stiff support is seen at $93 which needs to be cleared for triggering further liquidation. Otherwise there are chances of recovery upticks.
Gold KG Aug
Prices likely to be choppy inside Rs 49500-51200 levels and breaking any of the sides would suggest fresh directional moves.
Silver KG Sep
Choppy with negative bias is intact as long as Rs 57600 caps the upside. A direct drop below Rs 55000 is a major weak sing.
Crude Oil Aug
If unable to break Rs 7900 intraday moves largely on the downside. A direct rise above the same would extend rallies.
Natural Gas Aug
Corrective selling is likely if prices are unable to move past Rs 740. Anyhow, major selloffs would be seen only a close below Rs 600.
Copper Aug
A direct break above Rs 640 would extend rallies. Else, choppy with mild negative bias trading expected.
Nickel Aug
Volume less trades inside Rs 1880-2400 levels likely to continue in near future.
Zinc Aug
Consistent trades above Rs 277 would extend the buying interest. Else, there are chances of corrective selling pressure.
Lead Aug
Break above Rs 178 is needed to trigger further rallies. Inability to so, there are chances of corrective selling pressure.
Aluminium Aug
Expect a congested trade inside Rs 215-206 levels and breaking either the sides would suggest fresh direction for the day.
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