Oil prices inch higher amid tighter supplies, demand uncertainty - Swastika Investmart
COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Oil prices inch higher amid tighter supplies, demand uncertainty
* Oil prices edge up as production cuts keep market supported
* Gold under pressure as dollar, yields rise on Fed uncertainty
CHART OF THE DAY
Silver is continuing its bearish momentum, and there are no signals of recovery below 72000 levels, where 71000–70500 is an immediate target level. On the upside, 72000 is the intraday and immediate resistance level. While below 71000 leads to further weakness towards the 70800–70500 zone,
OUTLOOK:
* Bullion: Day trend is indicating sideways to downside in Gold &Silver.
* Energy: Day trend is indicating uptrend in Crude oil & Natural gas
* Base metals: Day trend is indicating sideways in all base metals
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