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07-08-2024 09:12 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 07 August 2024 - Geojit Financial Services Ltd

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Gold LBMA Spot

Prices remain choppy initially. 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

A direct drop below $72 would extend selloffs. Else, recovery rallies expected.

Gold KG Oct

A direct drop below Rs 68000 would extend liquidation pressure. Else, recovery rallies expected.

Silver KG Sep

Weak bias may continue if prices drop below Rs 78200.

Crude Oil Aug

Choppy with mild weak bias expected the day. Further selloffs expected only below Rs 6000.

Natural Gas Aug

Expect a mild turnaround as long as Rs 158 remains restrict further downsides.

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

Likely for choppy with recovery upticks for the day.

Lead Aug

While below Rs 184 may see weak bias for the day.

Aluminium Aug

Range bound with weak bias expected the day.

 

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