Intraday Technical Outlook 12 August 2021 - Geojit Financial
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Gold Mini Aug/ LBMA Spot Gold
Broad outlook continue to be choppy with negative as long as it stays below $1715. Anyhow, further major liquidation is seen only a close below $1680.
Silver Mini Aug/ LBMA Spot Silver
Break above $23.60 is required to lift prices higher. Else, there are chances of range bound trading with mild negative bias.
Crude Oil
Initial pullbacks are likely, but it required to break $71 to continue such moves. Otherwise it likely to correct lower for the day.
Gold
Dips to Rs 46200 likely expected followed by a consolidation and trigger upticks. Consistent trades below Rs 45900 is another signal of liquidation.
Silver
If 62000 continue to hold the downside, there are chances of recovery upticks. Else, prices correct further.
Crude Oil Aug
Corrective selloffs may continue if prices are unable to break the resistance of 5230. Anyhow, major support is placed at 4920.
Natural Gas Aug
Corrective selloffs are likely as long as 313 remain caps the upside. A direct rise above the same may take prices further high.
Copper Aug
An upside turnaround is possible if it remain hold the support of 716. However, there is a stiff resistance is seen at 742.
Nickel Aug
While prices stay above 1445 recovery upticks to continue the day. Further selling pressure is seen only a break of 1390.
Zinc Aug
Outlook remain on the positive side while prices stay above 245. Immediate trend reversal is seen at 242.
Lead Aug
Immediate resistance is seen at 182, break of which fresh rallies would continue. Else, there are chances of choppy trading.
Aluminium Aug
Prices required to break 209 to continue rallies. Else, there are chances of choppy with negative bias for the day
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