31-07-2024 09:19 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 31 July 2024 - Geojit Financial Services Ltd

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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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