Commodity Intraday Technical Outlook 31 July 2024 - Geojit Financial Services Ltd
Gold LBMA Spot
Choppy with selling pressure expected initially. Anyhow, stiff support is placed at $2350.
Silver LBMA Spot
Consistent trades above $28.50 expect recovery rallies. Else, choppy with negative bias expected.
Crude Oil NYMEX
While below $76 expect to continue the selling pressure. Stiff resistance is seen at$78.50
Gold KG Aug
Choppy with mild negative bias expected initially. Anyhow upside turnaround point is seen at Rs 70000.
Silver KG Sep
If unable to move past Rs 80500 there are potential upticks for the day.
Crude Oil Aug
Recovery rallies are expected as long as Rs 6250 remains hold downside.
Natural Gas Aug
Broad outlook remains on the weaker side. Anyhow support is placed at Rs 167.
Copper Aug
Break below Rs 780 would extend selling pressure. Else, recovery rallies are on the cards.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
Recovery rallies are on the cards while the support of Rs 248 remains undisturbed.
Lead Aug
Consistent trades above Rs 187 would lift prices higher for the day.
Aluminium Aug
Further rallies seen only below Rs 208. Inability to break it would see recovery upticks.
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