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Crudeoil witnessing the sharp selling pressure below 50 DMA which is currently placed around 8050 level - Swastika Investmart
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News in headlines:
Gold Down, Ahead of The U.S. Inflation Data
Ukraine to halt some Russian gas flows, claims battlefield gains
Oil Bounces Back Slightly Ahead of Economic Figures
Chart of the day:
CRUDEOIL: CRUDEOIL witnessing the sharp selling pressure below 50 DMA which is currently placed around 8050 level but it starts to trade below this level then we can expect further weakness towards 100 DMA which is currently placed at 7150. On the upside 8000 will act as an immediate hurdle while 8150 has become a critical supply zone.
Technical View:
Bullion: Day trend is indicating downtrend in Gold & Silver.
Energy: Day trend is indicating downtrend in Crude oil & downtrend in Natural gas.
Base metals: Day trend in base metal is indicating sideways to downtrend.
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