Oil Heads for 4th Week of Losses as Fed Jitters Offset Tightening Supply - Swastika Investmart
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Daily Commodity Market Updates
News in headlines:
* Oil Heads for 4th Week of Losses as Fed Jitters Offset Tightening Supply
* Oil prices rise as Iran deal stalls, Russian supply amid conflict
* Gold Steadies Despite Rate Hike Headwinds, set for Flat Week
Chart of the day:
GOLD: GOLD is continuing its bullish momentum after four days of consolidation where 50300-50400 is intraday immediate target levels. On the downside 49700 is immediate support level while below 49700 further weakness we will see in upcoming sessions.
Technical View:
* Bullion: Day trend is indicating to uptrend in Gold & Silver.
* Energy: Day trend is indicating sideways in Crude oil & Natural gas.
* Base metals: Day trend is indicating sideways in all base metals.
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