Crudeoil witnessed a sharp selling pressure in recent days due to uncertain global cues - Swastika Investmart
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DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Crude oil lower; geopolitical tensions ease, China COVID cases rise
* Wheat falls to 10-week low as Ukraine grain deal is extended
* European Gas Prices Drop as Weather Predicted to Turn Warmer
CHART OF THE DAY
CRUDEOIL: CRUDEOIL witnessed a sharp selling pressure in recent days due to uncertain global cues ,however 6650 is an immediate support level. On the upside 6800 is immediate resistance level. While below 6650 lead further weakness towards 6580-6600 zone.
OUTLOOK:
* Bullion: Day trend is indicating to Uptrend in Gold &Silver.
* Energy: Day trend is indicating Downtrend in Crude oil & Natural gas
* Base metals: Day trend is indicating Sideways in all base metals.
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