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Intraday Technical Outlook 28 July 2021 - Geojit Financial
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Gold Mini Aug/ LBMA Spot Gold
If the support of $1780 remain undisturbed, intraday bias likely to extend the positive outlook. However, the immediate upside obstacle of $1835 which needs to be cleared for triggering sharp rallies in the counter. A direct drop below $1765 is an early signal of major liquidation pressure. MCX GoldM Aug Res: 48400 Support: 46850.
Silver Mini Aug/ LBMA Spot
Silver While prices stay above the support of $24.20 chances of recovery upticks are still on the cards. A direct drop below the same is a signal of long liquidation pressure. MCX SilverM Aug: Res at Rs 68800. Sup: 65200.
Copper Aug
Choppy with mild positive bias is likely but a break of 734 would negate the view and take prices lower.
Nickel Aug
Bullish outlook to continue while the support of 1420 remain hold the downside. Major turnaround point is seen at 1390.
Lead Aug
Inability to break the resistance of 179, weak momentum likely to extend the day. A direct rise above 181 is a buying signal.
Zinc Aug
Bullish view may extend further as long as the support of 242 remain undisturbed. Downside turnaround point is placed at 236.
Aluminium Aug
Break above 202.50 is required to extend further bullish rallies. Else, there are chances of corrective selling for the day.
MCX Crude Oil Jul/NYMEX Crude Aug
A direct break above the resistance of $72.5 is needed to continue recovery upticks. Else, there are chances of choppy with corrective selling initially but sharp liquidation can be seen only a break of $65. MCX Aug: Res at Rs 5430 / Support: Rs 5140.
Natural Gas Aug
As long as the support of 289 remain undisturbed expect recovery rallies today. Anyhow, immediate trend reversal point is at 264.
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