Crudeoil is trading in a narrow range and next move will be seen after the range breakout - Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE:
* Oil prices edge lower, set for weekly losses as Fed fears weigh
* Gold sinks on rate hike fears, copper outperforms this week
* Singapore Non-oil Domestic Exports (NODX) for January +0.9% m/m (expected -1.2%)
CHART OF THE DAY:
CRUDEOIL:
CRUDEOIL is trading in a narrow range and next move will be seen after the range breakout ,however 6460 is an immediate support level and 6550 is immediate resistance level . While above 6550 lead further strength towards 6580-6600 zone.
OUTLOOK:
* Bullion: Day trend is indicating to Downtrend in Gold &Silver.
* Energy: Day trend is indicating Sideways in Crude oil & Natural gas
* Base metals: Day trend is indicating Sideways in all base metals.
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