Commodity Intraday Technical Outlook 18 July 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Upward momentum may continue while prices stay $2360. Else, weakness is on the cards.
Silver LBMA Spot
Prices remain choppy initially. Anyhow broad outlook expected to be positive as long as prices stay above $30.20.
Crude Oil NYMEX
Choppy with upticks expected initially. Anyhow major rallies seen only above $84.
Gold KG Aug
While above Rs 74000 likely to extend rallies. Else, choppy trading expected the day.
Silver KG Sep
Break above Rs 94000 would trigger further major rallies. Else weakness expected the day.
Crude Oil Jul
Resistance above Rs 6950 may see 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
Likely for choppy trades inside Rs 191-188 levels and either side breakout would suggest fresh directors.
Aluminium Jul
As long as Rs 230 restricts upside, expect weakness would continue the day.
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