Commodity Intraday Technical Outlook 25 July 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Mild negative bias trading expected initially. A direct drop below $2380 would extend weakness.
Silver LBMA Spot
Break below $28.50 would trigger further liquidation pressure. 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
Expect weakness to extend the day. Break above Rs 70000 is a sing of upside reversal.
Silver KG Sep
Break below Rs 84500 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
Broad outlook remains on the weaker side. Anyhow support is placed at Rs 176.
Copper Aug
Weakness would extend while below Rs 800. Inability to move past the same will see recovery rallies.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
Choppy trading is on the cards. Anyhow, a direct break above Rs 258 may extend rallies.
Lead Aug
Consistent trades above Rs 187 would lift prices higher for the day.
Aluminium Aug
Choppy with weak bias expected the day. Anyhow stiff support is seen at Rs 212.
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