Commodity Intraday Technical Outlook 06 August 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Choppy with mild recovery bias expected the day. Anyhow stiff support is placed at $2380.
Silver LBMA Spot
It is required to trade above $28.50 to trigger major rallies. Else, prices remains choppy.
Crude Oil NYMEX
Consistent trades below $72 would trigger selloffs. Else, recovery rallies expected.
Gold KG Oct
Upside recovery expected as long as Rs 69500 hold downside.
Silver KG Sep
Choppy with recovery rallies are on the cards for the day.
Crude Oil Aug
Mild turnaround in prices expected the day. Further selloffs expected only below Rs 6000.
Natural Gas Aug
Broad outlook remains on the weaker side. Anyhow support is placed at Rs 167.
Copper Aug
Stiff support is seen at Rs 765 which if cleared would extend weakness.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
Choppy with recovery upticks expected the day.
Lead Aug
A direct break below Rs 186 would extend weakness for the day.
Aluminium Aug
If unable to move past Rs 208 there are potential upside for the day.
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