Commodity Intraday Technical Outlook 12 August 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Choppy trading expected the day. Stiff support below $2380 would trigger weakness.
Silver LBMA Spot
It is required to trade above $28.50 to trigger major rallies. Else, prices remains choppy.
Crude Oil NYMEX
Pullback rallies likely to continue initially while the support of $72 remain undisturbed.
Gold KG Oct
As long as Rs 69500 hold downside may extend rallies. Else, choppy trading expected the day.
Silver KG Sep
Choppy trading expected the day. If prices drop below Rs 78200 would see further weakness.
Crude Oil Aug
Upticks likely to continue the day. Downside reversal point is at Rs 6050.
Natural Gas Aug
Recovery rallies likely to extend while the support of Rs 172 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
Recovery upticks may extend the day as well. Siff support is seen at Rs 244.
Lead Aug
Consistent trades above Rs 184 may see recovery rallies for the day.
Aluminium Aug
While above Rs 212 intraday bias most likely on the positive side.
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