Commodity Intraday Technical Outlook 22 July 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Recovery upticks can see initially. A direct drop below $2380 would extend weakness.
Silver LBMA Spot
Further selloffs expects only below $28.50. Else, a mild turnaround expected the day.
Crude Oil NYMEX
While below $80 intraday outlook remain on the weaker side.
Gold KG Aug
Stiff resistance is seen at Rs 74500. If unable to break it would see weak bias.
Silver KG Sep
Expect choppy with mild negative bias trading. Anyhow stiff support is seen at Rs 86000.
Crude Oil Aug
Consistent trades below Rs 6700 would extend weakness.
Natural Gas Jul
As long as Rs 168 holds expect recovery rallies for the day.
Copper Jul
While prices stay below Rs 822 would extend selling pressure.
Nickel Jul
Expect choppy with thin volume trading in the near future.
Zinc Jul
Weakness likely to continue the day. Anyhow, a direct break above Rs 277 may extend rallies.
Lead Jul
Consistent trades below Rs 187 would extend weakness for the day.
Aluminium Jul
Break below Rs 220 would extend weakness for the day. Else, recovery rallies expected.
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