Commodity Intraday Technical Outlook 22 August 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Outlook remains on the positive side while it stays above $2485. 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
Break below $71.50 would extend selling pressure. 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
Prices needs to sustain above Rs 85000 to extend rallies. Else choppy trades expected the day.
Crude Oil Sep A direct drop below Rs 6000 would extend selling pressure. Else recovery upticks can be seen today.
Natural Gas Aug
Choppy trades inside 190-176 levels expected initially and either side breakout would suggest fresh directions.
Copper Aug
Consistent trades above Rs 800 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 192.
Aluminium Aug
It needs to break above Rs 228 to extend rallies. If not may see corrective selling pressure.
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