Commodity Intraday Technical Outlook 19 August 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
While prices stay above $2485 it may continue rallies. Immediate downside reversal point is seen at $2430.
Silver LBMA Spot
Upticks may continue initially it has to break above $29 to set of major rallies.
Crude Oil NYMEX
Choppy trade inside $80-75 levels initially and either side breakout would suggest fresh directions.
Gold KG Oct
While above Rs 70500 it may extend upticks. Eles, choppy trading is on the cards.
Silver KG Sep
There are chances of extension of upticks while prices stay above Rs 81000.
Crude Oil Sep
Intraday momentum mostly downbeat as long as the resistance of Rs 6500 caps upside.
Natural Gas Aug
Inability to move past Rs 190, intraday bias mostly choppy with negative.
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
A direct rise above Rs 264 may see extension of rallies. Else, choppy trading expected the day.
Lead Aug
Choppy with mild weakness expected. Stiff resistance is placed at Rs 188.
Aluminium Aug
Consistent trads above Rs 220 likely to extend rallies. Else, weak bias intact.Consistent trads above Rs 220 likely to extend rallies. Else, weak bias intact.
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