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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