Commodity Intraday Technical Outlook 02 August 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Choppy trades remains on the card for the day. Anyhow stiff support is placed at $2380.
Silver LBMA Spot
It is required to trade above $28.50 to extend recovery rallies. Else, choppy with negative bias expected.
Crude Oil NYMEX
Rangebound trade inside $79-74.50 region expected the day.
Gold KG Oct
Expect weak bias as long as Rs 70500 caps further upside.
Silver KG Sep
Further rallies seen only above Rs 84000. If unable to do so may see corrective selling pressure.
Crude Oil Aug
Break above Rs 6600 is needed to extend rallies. Else, corrective selloffs expected.
Natural Gas Aug
Broad outlook remains on the weaker side. Anyhow support is placed at Rs 167.
Copper Aug
Expect recovery upticks while the support of Rs 785 remain undisturbed.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
A mild recovery expected while the support of Rs 248 remains undisturbed.
Lead Aug
A direct break below Rs 186 would extend weakness for the day.
Aluminium Aug
Choppy with mild negative bias is likely for the day. Anyhow, stiff support is placed at Rs 208.
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