Commodity Intraday Technical Outlook 05 July 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Likely for copy trading initially. Consistent trades above $2360 would extend rallies.
Silver LBMA Spot
Prices remain choppy initially. However, a direct drop below $28.50 may extend weak bias.
Crude Oil NYMEX
However as long as the support of $80 remain undisturbed, broad outlook remains positive.
Gold KG Aug
While above Rs 72000 likely 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
Expect a range trade inside Rs 6800-7100 levels and any sides breakout would suggest fresh directions.
Natural Gas 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
A direct fall below Rs 188 may trigger further weakness. Else, recovery rallies expected the day.
Aluminium Jul
Expect choppy trade inside Rs 231-235 levels with mild positive bias.
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