Commodity Intraday Technical Outlook 27 July 2023 - Geojit Financial Services
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Gold LBMA Spot
Prices remain choppy trades inside $1940-1990 levels initially. Breaking any of the sides would suggest fresh short term direction.
Silver LBMA Spot
Recovery upticks expect initially but it needs to clear above $25.20 to strengthen the momentum.
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
Choppy trade inside Rs 60000-58200 levels would continue 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
While prices stay above Rs 6300 would continue rallies. Else, choppy trading is on the cards.
Natural Gas Jul
Expect corrective selling pressure to continue if prices are unable to move past Rs 225.
Copper Aug
A direct rise above Rs 740 would extend rallies. If not expect corrective selling pressure.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
While prices stay above Rs 215 expect rallies would continue. Inability to break below 210 is a sign of liquidation.
Lead Aug
Consistent trades above Rs 183 would extend rallies. Else, choppy trading is on the cards.
Aluminium Aug
Inability to move past Rs 195 expect recovery upticks. A direct drop of which would liquidate prices further.
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