Commodity Intraday Technical Outlook 16 July 2024 - Geojit Financial Services Ltd
Gold LBMA Spot
Upward momentum may continue while prices stay $2360. Else, weakness is on the cards.
Silver LBMA Spot
Choppy with mild positive bias expected as long as prices stay above $30.20.
Crude Oil NYMEX
Choppy with corrective selloffs expected initially. Anyhow major rallies seen only above $84.
Gold KG Aug
While above Rs 73100 likely to extend rallies. Else, choppy trading expected the day.
Silver KG Sep
Stiff resistance placed at Rs 94000, beak of which would extend rallies. Else weakness expected the day.
Crude Oil Jul
Break above Rs 6950 would trigger another round of rallies. If not, may see choppy with weak bias.
Natural Gas Jul
Choppy with negative bias likely to continue the day.
Copper Jul
Inability to break the support of Rs 868 weakness expected the day.
Nickel Jul
Expect choppy with thin volume trading in the near future.
Zinc Jul
If unable to break above Rs 277 may extend rallies. Else, weak bias are on cards.
Lead Jul
Prices remain choppy inside Rs 190-188 levels and either side breakout would suggest fresh directors.
Aluminium Jul
While below Rs 230 would extend weakness. If not may see recovery upticks
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345