Copper is witnessing the bouncing back and manages to hold its 25 SMA - Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE:
* Oil recovery runs out of fuel as Fed jitters weigh
* Gold treads water in anticipation of more Fed cues
* Oil rises 1% on China demand hopes and supply concerns
CHART OF THE DAY:
COPPER:
COPPER is witnessing the bouncing back and manages to hold its 25 SMA however 780-782 is an immediate and minor hurdle, above this, we can expect some short covering move towards critical resistance of 790, while below 770 it may head towards 765-760 mark.
OUTLOOK:
* Bullion: Day trend is indicating sideways in Gold &Silver.
* Energy: Day trend is indicating sideways in Crude oil & downtrend in Natural gas
* Base metals: Day trend is indicating sideways to upside in all base metals.
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