GOLD is respecting its important support level of 57700-57800 - Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Oil treads water as markets weigh supply cuts, manufacturing slump
* China to restrict exports of chipmaking materials as US mulls new curbs
* Gold moves further above $1,900 support, more Fed cues awaited
CHART OF THE DAY
GOLD: GOLD is respecting its important support level of 57700-57800 beautifully, but 58700 is an immediate and critical resistance zone. Above this, we can expect a short-covering rally towards the 59000-59300 zone. On the downside, 58000 is an immediate support zone, while 57700 is the next support zone
OUTLOOK:
* Bullion: Day trend is indicating sideways to upside in Gold &Silver.
* Energy: Day trend is indicating sideways to upside in Crude oil & Natural gas
* Base metals: Day trend is indicating sideways to downside in all base metals.
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