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Bullion: Day trend is indicating downtrend in Gold &Silver - Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE:
* Oil falls after industry data points to jump in U.S. crude stocks
* Oil prices under pressure from inflation angst, U.S. inventory build
* Gold prices muted as markets weigh mixed inflation reading
CHART OF THE DAY:
CRUDEOIL: CRUDEOIL is witnessing the bouncing back and manages to hold its 50 SMA however 6650 is an immediate and minor hurdle, above this, we can expect some short covering move towards critical resistance of 6750-6800, while below 6440 it may head towards 6400-6350 mark.
OUTLOOK:
* Bullion: Day trend is indicating sideways in Gold &Silver.
* Energy: Day trend is indicating uptrend in Crude oil & sideways in Natural gas
* Base metals: Day trend is indicating sideways to upside in all base metals.
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