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01-01-1970 12:00 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 29 July 2022 - Geojit Financial Services
News By Tags | #473 #4943

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Gold LBMA Spot

Recovery upticks may continue initially but breaking $1760 is needed to trigger major rallies. Inability to do so, may trigger corrective selling pressure.

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

If the support of $93 holds downside, expect recovery upticks. A direct drop below the same is a sign of major weakness.

Gold KG Aug

While prices stay above Rs 51200 expect recovery moves. Further selloffs are seen only a break of Rs 50400.

Silver KG Sep

Recovery upticks may continue the day. A direct drop below Rs 54800 is a sign of further liquidation pressure.

Crude Oil Aug

Expect a choppy trading inside Rs 8000-7400 expected initially and breaking either the sides would suggest fresh direction for the day.

Natural Gas Aug

Corrective selling is likely if prices are unable to move past Rs 720. Anyhow, major selloffs would be seen only a close below Rs 600.

Copper Aug

As prices cleared the resistance of Rs 640 would extend recovery rallies. Consistent trades below Rs 630 is a sign of weakness.

Nickel Aug

Volume less trades inside Rs 1880-2400 levels likely to continue in near future.

Zinc Aug

While prices stay above Rs 278 it may continue rallies. Break below Rs 270 is a sign of downside reversal.

Lead Aug

Break above Rs 178 is needed to trigger further rallies. Inability to so, there are chances of corrective selling pressure.

Aluminium Aug

Prices remain congested inside Rs 216-208 levels initially and breaking either the sides would suggest fresh direction for the day.

 

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