Commodity Intraday Technical Outlook 02 July 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Consistent trades above $2360 would extend rallies. Else, weakness is on the cards.
Silver LBMA Spot
Prices remain choppy initially. However, a direct drop below $28.50 may extend weak bias.
Crude Oil NYMEX
Upside rallies more likely as long as the support of $80 remain undisturbed.
Gold KG Aug
It is required to break above Rs 72000 to extend rallies. Else, choppy trading expected the day.
Silver KG Jul
While below Rs 88000 outlook remains on the weaker side. Stiff resistance at Rs 92000.
Crude Oil Jul
Expect a choppy trade inside Rs 6500-6900 levels and breaking any of the sides would suggest fresh directions.
Natural Gas Jul
Intraday bias mostly weaker as long as prices stay below Rs 216.
Copper Jul
Recovery upticks expected initially. Break below Rs 835 would trigger liquidation pressure.
Nickel Jul
Expect choppy with thin volume trading in the near future.
Zinc Jul
Break above Rs 270 it may extend recovery upticks. Else, corrective selling is on the cards.
Lead Jul
Inability to move past Rs 192 there are chances of selling pressure to continue the day.
Aluminium Jul
As long as the support of Rs 230 hold downside, expect recovery rallies would continue the day.
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