CRUDEOIL witnessing the sharp selling pressure where 50 DMA which is currently placed around 7980 level - Swastika Investmart
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Daily Commodity Market Updates
News in headlines:
Oil Slips Amid Financial Market and Demand Worries
Oil tumbles on global economic worries, strong dollar
Oil Extends Decline as Europe Softens Some Russian Sanctions
Chart of the day:
CRUDEOIL: CRUDEOIL witnessing the sharp selling pressure where 50 DMA which is currently placed around 7980 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 8370 will act as an immediate hurdle while 8335 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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