Commodity Intraday Technical Outlook 24 July 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Choppy with mild negative bias trading is on the cards. 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 prices stay below $78 it may continue weak bias for the day.
Gold KG Aug
Break below Rs 68500 would extend liquidation pressure. Else, recovery upticks expected the day.
Silver KG Sep
Support is seen at Rs 84500 which if cleared would extend selling pressure. Else, recovery rallies expected.
Crude Oil Aug
Choppy with weak bias expected as long as prices stay below Rs 6500. Natural Gas Jul As long as Rs 180 holds expect recovery rallies for the day.
Copper Jul
Further weakness is seen only below Rs 800. inability to move past the same will see recovery rallies.
Nickel Jul
Expect choppy with thin volume trading in the near future. Zinc Jul Choppy trading is on the cards. Anyhow, a direct break above Rs 262 may extend rallies.
Lead Jul
Consistent trades below Rs 187 would extend weakness for the day.
Aluminium Jul
Consistent trades below Rs 214 would extend weakness. Else, recovery upticks expected.
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