Intraday Technical Outlook 31 August 2021 - Geojit Financial
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Gold LBMA Spot
While prices stay above $1815 expect rallies to continue in the counter. A direct drop below $1780 would trigger further selling pressure.
Silver LBMA Spot
Stability above $23.90 would lift prices further higher. Else, there are chances of range bound trading for the day.
Crude Oil NYMEX
Prices required to break $70 to continue rallies. Else, there are chances of choppy with mild negative bias trading for the day.
Gold KG Oct
Inability to move past 47000 there are chances of recovery upticks for the day. A close below 46600 would trigger further liquidation.
Silver KG Sep
Choppy with mild positive bias expected initially. Breaking 64500 is an early signal of major rallies.
Crude Oil Sep
A direct drop below 4960 selling pressure may continue. Else, there are chances of recovery rallies.
Natural Gas Sep
Initial dips to 310-12 level may find support and trigger rallies. A close below 303 is a sign of further weakness.
Copper Sep
As long as 716 hold the downside, expect recovery rallies for the day.
Nickel Sep
Rallies would continue if prices constantly trades above 1448. Further weakness is seen only a break of 1416.
Zinc Sep
Range bound trade inside 249-244 is expected initially. Breaking any of the sides would suggest fresh direction for the day.
Lead Sep
Prices continue to trade inside 181-176 region and either side breakout would suggest fresh direcion for the day.
Aluminium Sep
Positive bias likely to extend as long as it stays above 209.
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