Energy: Day trend is indicating downtrend in Crude oil & uptrend in Natural gas - Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Oil drifts higher after wiping out all OPEC-driven gains
* Oil prices rebound after recession fear, Russia exports fuelled earlier losses
* Gold prices move little ahead of U.S. GDP, inflation data
CHART OF THE DAY
CRUDEOIL: CRUDEOIL broke the 100 DMA yesterday and closed around 6235 with a red note. On the downside, it has an immediate target level of 6300–6250; on the upside, 6400 is an intraday resistance level; and below 6250, it may head towards 6200–6150 levels.
OUTLOOK:
* Bullion: Day trend is indicating to sideways to upside in Gold &Silver.
* Energy: Day trend is indicating downtrend in Crude oil & uptrend in Natural gas
* Base metals: Day trend is indicating downtrend in all base metals
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