Energy: Day trend is indicating Downtrend in Crude oil & Natural Gas - Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Oil prices set for dismal week as recession fears mount
* Gold nurses steep losses as dollar rebounds ahead of nonfarm payrolls
* U.S. natural gas storage saw higher-than-forecast 151 bcf draw last week – EIA
CHART OF THE DAY
GOLD:
GOLD witnessed a sharp selling pressure from higher levels ,however 57500 is an immediate support level and 58000 is immediate resistance level . While above 58000 lead further strength towards 58200-58500 zone.
OUTLOOK:
* Bullion: Day trend is indicating to Uptrend in Gold &Silver.
* Energy: Day trend is indicating Downtrend in Crude oil & Natural gas
* Base metals: Day trend is indicating Uptrend in all base metals.
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