Commodity Intraday Technical Outlook 23 August 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Choppy trading expected initially anyhow broad outlook remains on the positive side. Immediate downside reversal point is seen at $2430.
Silver LBMA Spot
Further rallies seen only above $30. inability to break it would see corrective selloffs.
Crude Oil NYMEX
Break below $71.50 would extend selling pressure. Else, recovery rallies expected.
Gold KG Oct
It is required to break above Rs 72000 to extend rallies. If not may see corrective selloffs.
Silver KG Sep
Prices needs to sustain above Rs 85000 to extend rallies. Else choppy trades expected the day
Crude Oil Sep
If unable to break the support of Rs 6000 likely to see extension of recovery rallies.
Natural Gas Aug
While below Rs 176 there are chances of extend weak momentum.
Copper Aug
Choppy with mild negative bias expected the day. Anyhow support is seen at Rs 782.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
Break above Rs 266 likely to extend rallies. If not may see weak bias for the day.
Lead Aug
Consistent trades above Rs 190 would extend recovery rallies.
Aluminium Aug
Further rallies expected only above Rs 225. Inability to break it would see corrective selling.
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