Commodity Intraday Technical Outlook 21 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
While above $29 likely to extend rallies. Downside reversal point is placed at $27.50.
Crude Oil NYMEX
Stiff support is placed at $71.50 which if cleared would extend selloffs. Else, recovery rallies expected.
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
Stiff support is seen at Rs 6000 break of which would extend selling pressure. Else upticks can be seen today.
Natural Gas Aug
Expect a choppy trade inside 190-176 levels and breaking any of the sides would suggest fresh directions.
Copper Aug
While above Rs 790 would see mild upticks. 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
While prices stay above Rs 220 likely to extend rallies. Else, choppy trading expected.
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