Commodity Intraday Technical Outlook 08 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
Recovery rallies likely to extend as long as the support of $72 remain undisturbed.
Gold KG Oct
Break above Rs 69500 would trigger rallies. Else, choppy trading expected but stiff support is at Rs 68000.
Silver KG Sep
Weak bias may continue if prices drop below Rs 78200.
Crude Oil Aug
Mild upside expected the day. Further selloffs seen only below Rs 6000.
Natural Gas Aug
Recovery rallies likely to extend while the support of Rs 160 remain undisturbed.
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
Consistent trades above Rs 184 may see recovery rallies for the day.
Aluminium Aug
Prices continue in a choppy range with mild negative bias.
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