Commodity Intraday Technical Outlook 20 August 2024 - Geojit Financial Services Ltd
Gold LBMA Spot
While prices stay above $2485 it may continue rallies. Immediate downside reversal point is seen at $2430.
Silver LBMA Spot
While above $29 likely to extend rallies. Downside reversal point is placed at $27.50.
Crude Oil NYMEX
Prices remain choppy initially. A direct drop below $73 would extend weakness further.
Gold KG Oct
As long as Rs 71200 remain undisturbed, 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
Downbeat momentum may continue as long as prices stay below Rs 6500.
Natural Gas Aug
If unable to clear the support of Rs 178 there are chances of recovery rallies for the day.
Copper Aug
While 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
As long as prices stay above Rs 220 likely to extend rallies. Else, choppy trading expected.
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