Commodity Intraday Technical Outlook 29 August 2024 - Geojit Financial Services Ltd
Gold LBMA Spot
Break above $2530 would extend rallies. Else, choppy trades expected the day.
Silver LBMA Spot
It is necessary to cross above $30 to extend rallies. inability to break it would see corrective selloffs.
Crude Oil NYMEX
A mild turnaround expected while the support of $74 remain hold downside.
Gold KG Oct
It is required to break and sustain above Rs 72000 to extend rallies. Else, choppy with corrective dips expected.
Silver KG Dec
A direct break below Rs 85000 likely to extend weakness.
Crude Oil Sep
Expect a range bound trade initially. A direct rise above Rs 6500 would extend upticks.
Natural Gas Sep
There are chances of recovery upticks while prices stay above Rs 178.
Copper Sep
Choppy with weak bias expected as long Rs 810 caps upside.
Nickel Sep
Expect choppy with thin volume trading in the near future.
Zinc Sep
Consistent trades above Rs 272 may extend rallies. Else, likely for weak bias.
Lead Sep
Consistent trades above Rs 190 would extend recovery rallies.
Aluminium Sep
While below Rs 230 there are chances of corrective selling pressure to extend the day.
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