CRUDEOIL is continuing its bullish momentum, and there are no signals of weakness where 6800 - 6850 - Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATE
NEWS IN HEADLINE
* Oil prices rise on bigger supply cuts; payrolls in focus
* Oil prices set for sixth weekly gain as producers pledge output cuts
* Gold prices creep higher ahead of nonfarm payrolls, copper rises
CHART OF THE DAY
CRUDEOIL: CRUDEOIL is continuing its bullish momentum, and there are no signals of weakness where 6800–6850 is an immediate target level. On the downside, 6500 is the intraday and immediate support level. While below 6500 leads to further weakness towards 6450–6400.
OUTLOOK:
* Bullion: Day trend is indicating sideways to upside in Gold &Silver.
* Energy: Day trend is indicating uptrend in Crude oil & Natural gas
* Base metals: Day trend is indicating uptrend in all base metals.
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