Commodity Intraday Technical Outlook 14 August 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Mild upticks expected initially. It has to break above $2485 to trigger major rallies.
Silver LBMA Spot
Consistent trades above $28.50 to trigger major rallies. Else, prices remains choppy.
Crude Oil NYMEX
Recovery rallies expected as long as the support of $78 remain undisturbed.
Gold KG Oct
Consistent trades above Rs 70500 would extend upticks. Eles, choppy trading is on the cards.
Silver KG Sep
Mild upside is expected initially. 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
Break below Rs 180 likely to extend weak bias. Anyhow stiff support is seen at Rs 175.
Copper Aug
Break above Rs 790 would extend rallies. Else, corrective selloffs expected.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
Inability to move past Rs 260 there are potential selling pressure for the day.
Lead Aug
Choppy with mild weakness expected. Stiff resistance is placed at Rs 188.
Aluminium Aug
A direct rise above Rs 216 would extend buying pressure for the day. Else, choppy with mild corrective selling is on the cards.
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