Commodity Intraday Technical Outlook 28 July 2022 - Geojit Financial Services
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Gold LBMA Spot
Prices remains choppy with mild negative initially. Recovery upticks are likely only a consistent trades above $1760.
Silver LBMA Spot
A mild upturn is expected if the support of $18 hold the downside. A direct drop below the same would trigger major selling pressure.
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
If the support of Rs 54800 remains undisturbed expect recovery upticks for the day.
Crude Oil Aug
If unable to break Rs 7700 intraday moves largely on the higher side. 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
Break above Rs 278 can take prices further higher. If unable to do so expected 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
Choppy trade inside Rs 215-206 levels expected initially and breaking either the sides would suggest fresh direction for the day.
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