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Intraday Technical Outlook 22 July 2021 - Geojit Financial
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Gold Mini Aug/ LBMA Spot Gold
Inability to move past the support of $1780, intraday bias slightly on the positive side. However, the $1835 resistance mark needs to be cleared for continuation of the momentum. A direct drop below $1780 is an early signal of major liquidation pressure in the counter. MCX GoldM Aug Res: 48400 Support: 46850.
Silver Mini Aug/ LBMA Spot Silver
If the support of $24.20 remain hold, there are chances of recovery upticks for the day. Else, expect continuation of weak momentum in the counter. Anyhow major rallies can be seen only a break above $26.80. MCX SilverM Jul: Res at Rs 70900. Sup: 66400.
Copper Jul
Choppy trading with mild positive bias expected the day. However, a direct drop below 718 prices would liquidate further.
Nickel Jul
If the immediate support of 1374 cleared, expect continuation of weakness. Else, expect recovery upticks for the day.
Lead Jul
While prices stay below 177 weak momentum remains on the cards. Further rallies can be seen only above 182.
Zinc Jul
A break above 244 could take prices further higher. Otherwise it may correct lower for the day.
Aluminium Jul
Weak momentum to continue as long as prices stay below the support of 196. Major resistance is seen at 198.
MCX Crude Oil Jul/NYMEX Crude Aug
Weakness likely to persist in the counter as long as the resistance of $72 remain caps the upside. However, a direct drop below $65 is a signal of another sharp liquidation. Major recovery rallies can below seen only a close above $75. MCX Aug: Res at Rs 5450 / Support: Rs 4880.
Natural Gas Jul
Intraday trend remain on the positive side as long as 283 hold the downside. Immediate trend reversal is seen only a break of 263.
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