Day trend is indicating downtrend in Crude oil & sideways in Natural gas - Swastika Investmart Ltd
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DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Gold steadies around $2,000 as recession fears fuel safe haven demand
* Oil prices extend losses on fears of recession and slower oil demand
* Oil prices muted after bruising week as economic concerns grow
CHART OF THE DAY
COPPER:
COPPER is continuing its bearish momentum, and there are no signs of recovery where 760 is an immediate target level. On the upside, 772 intraday and immediate resistance levels exist. While levels above 772 lead further strength towards 776-779 levels.
OUTLOOK:
* Bullion: Day trend is indicating to sideways to upside in Gold &Silver.
* Energy: Day trend is indicating downtrend in Crude oil & sideways in Natural gas
* Base metals: Day trend is indicating downtrend in all base metals.
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