Commodity Intraday Technical Outlook 26 July 2024 - Geojit Financial Services Ltd
Gold LBMA Spot
Weak bias may continue while prices stay below $2380.
Silver LBMA Spot
While 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
Weakness likely to extend the day. Break above Rs 70000 is a sing of upside reversal.
Silver KG Sep
Break below Rs 82500 would extend selling pressure. Else, recovery rallies expected.
Crude Oil Aug
Choppy trades expected initially but further major liquidation is expected only 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
Prices remains choppy initially. Anyhow stiff support is seen at Rs 212.
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