Commodity Intraday Technical Outlook 26 August 2024 - Geojit Financial Services Ltd
Gold LBMA Spot
Broad outlook remains on the positive side. Immediate downside reversal point is seen at $2430.
Silver LBMA Spot
It is necessary to cross above $30 to extend rallies. inability to break it would see corrective selloffs.
Crude Oil NYMEX
Upticks would continue while the support of Rs 74 hold downside.
Gold KG Oct
It is required to break above Rs 72000 to extend rallies. If not may see corrective selloffs.
Silver KG Sep
Upticks likely to extend while prices stay above Rs 85000. Stiff support is seen at Rs 83300.
Crude Oil Sep
Further selloffs seen only below Rs 6000. Inability to move past may see recovery rallies.
Natural Gas Aug
While below Rs 176 there are chances of extend weak momentum.
Copper Aug
Expect choppy trade inside Rs 800-816 levels and either side breakout would suggest fresh directions.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
Consistent trades above Rs 270 would extend rallies.
Lead Aug
Consistent trades above Rs 190 would extend recovery rallies.
Aluminium Aug
A direct break above Rs 234 would see fresh rallies. Else, choppy with mild negative bias for the day.
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