Commodity Intraday Technical Outlook 30 June 2023 - Geojit Financial Services
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Gold LBMA Spot
Weakness likely to continue while prices stay below $1900. Immediate upside reversal point is placed at $1940.
Silver LBMA Spot
Further selloffs are expected only a break of $22. Else, a mild upside recovery are possible for the day.
Crude Oil NYMEX
Expect a range bound trade inside $71-67 levels initially and breaking any of the sides would suggest fresh directional moves.
Gold KG Aug
As long as prices stay below Rs 59000 would extend weakness. Break above Rs 60500 is a sign of recovery momentum.
Silver KG Sep
Break above the resistance of Rs 71000 is needed to trigger recovery upticks. Else, it may continue weak trades for the day.
Crude Oil Jul
Prices remains choppy inside Rs 5800-5550 initially and breaking any of the sides would suggest fresh directional moves for the day.
Natural Gas Jul
If unable to break the support of Rs 220 expect mild recovery upticks. A direct drop below the same would see selling pressure.
Copper Jul
Further liquidation is expected if prices consistently trades below Rs 700. A direct rise above Rs 715 would negate the view.
Nickel Jul
Expect choppy with thin volume trading in the near future.
Zinc Jul
Intraday momentum remains on the weaker side as long as prices stay below Rs 215.
Lead Jul
If unable to break above Rs 186 intraday bias mostly on the weaker side. Else, expect a choppy trading.
Aluminium Jul
Intraday momentum most likely to be choppy. Anyhow, further major selloffs are seen only below Rs 196.
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