CRUDEOIL is now trading near the 200 SMA and facing resistance - Swastika Investmart
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NEWS IN HEADLINE
* China-US climate progress could hinge on new methane deal
* Oil slides from recent highs as China GDP underwhelms
* Oil slips after Libya resumes output, China data eyed
CHART OF THE DAY
CRUDEOIL:
CRUDEOIL is now trading near the 200 SMA and facing resistance. Yesterday, it was given a close with a red note. Now it has resistance around 6300-6350 levels. On the downside, 6150 below will test 6100-6050 levels again. Traders are advised to stay with the momentum sell on rise approach.
OUTLOOK:
* Bullion: Day trend is indicating uptrend 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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