Intraday Technical Outlook 17 August 2021 - Geojit Financial
Gold Mini Aug/ LBMA Spot Gold
Inability to break $1892 there are chances of corrective selling pressure for the day. It required to break $1815 to continue further upticks in the counter.
Silver Mini Aug/ LBMA Spot Silver
Consistent trades above $23.90 is required to lift prices higher. Else, there are chances of range bound trading with mild negative bias.
Crude Oil
If the $65.20 mark support remain hold the downside, recovery upticks may be seen in the counter. Further selloffs are see only a close below $65.
Gold
A direct break above 47200 expect recover upticks. Else, there are chances of choppy trading for the day
Silver
Choppy with mild negative bias may be seen initially. It required to break and sustain above 63800 to continue rallies.
Crude Oil
Choppy trading with mild upside bias may be seen for the day. Further liquidation is seen only a close below 4920.
Natural Gas Aug
Choppy with negative bias is likely as long as 303 caps the upside.
Copper Aug
If the support of 716 remain undisturbed expect recovery rallies for the day.
Nickel Aug
A direct break above 1500 is required to continue rallies. Else, there are changes of choppy trading for the day.
Zinc Aug
Outlook remain on the positive side while prices stay above 245. Immediate trend reversal is seen at 242.
Lead Aug
If unable to break the resistance of 182 expect corrective selloffs for the day. Meanwhile, a direct rise above the same is a sign of fresh rallies.
Aluminium Aug
A direct rise above 209 expect to trigger another round of bullish rally in the counter. Else, expect choppy trading for the day.
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