Commodity Intraday Technical Outlook 04 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
Choppy trading expected initially. However as long as the support of $80 remain undisturbed, broad outlook remains positive.
Gold KG Aug
It is required to break above Rs 72000 to extend rallies. Else, choppy trading expected the day.
Silver KG Jul
Mild positive momentum may continue but there is stiff resistance placed at Rs 92000.
Crude Oil Jul
Intraday bias mostly weaker as long as prices stay below Rs 210.
Copper Jul
Recovery upticks expected initially. Break below Rs 848 would trigger liquidation pressure.
Nickel Jul
Expect choppy with thin volume trading in the near future.
Zinc Jul
While 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
While prices consistent above Rs 230, expect recovery rallies would continue the day.
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