Crudeoil is continuing its bearish momentum and there are no signal of recovery where 6500 - Swastika Investmart
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Daily Commodity Market Updates
News in headlines:
* Oil Rises as EIA Sees Higher Demand, But Prices Pinned Below $90
* As S.Korea moves to expand nuclear power, disquiet grows among nearby residents
* Oil prices rise on spectre of Europe energy rationing
Chart of the day:
CRUDEOIL: CRUDEOIL is continuing its bearish momentum and there are no signal of recovery where 6500 is an immediate target level. On the upside 6780 intraday and immediate resistance level. While above 6780 lead further upside toward 6870-6970 levels.
Technical View:
* Bullion: Day trend is indicating sideways to upside in Gold & Silver.
* Energy: Day trend is indicating downtrend in Crude oil & Natural gas.
* Base metals: Day trend is indicating sideways to downside in all base metals
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