Commodity Intraday Technical Outlook 08 July 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Consistent trades above $2360 would extend rallies. Else, weakness is on the cards.
Silver LBMA Spot
While above $30 positive outlook remain intact. A direct drop below $28.50 may trigger weakness.
Crude Oil NYMEX
Further rallies seen only above $84. If not, may see corrective selloffs today.
Gold KG Aug
Intraday bias mostly positive but it is required to break above Rs 72250 to extend rallies.
Silver KG Sep
Mild positive momentum may continue but there is stiff resistance placed at Rs 94000.
Crude Oil Jul
Prices remain choppy inside Rs 6800-7100 levels likely and any sides breakout would suggest fresh directions.
Natural Gas Jul
A mild recovery expected as long as Rs 194 hold downside.
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
If prices break the resistance of Rs 278 may extend recovery rallies. Else, corrective selling is on the cards.
Lead Jul
Inability to move past Rs 192 there are chances of selling pressure to continue the day.
Aluminium Jul
As long as prices hold the support of Rs 230, expect recovery rallies would continue the day.
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