GOLD yesterday witnessing sharp selling pressure from resistance of 50750-50850 levels - Swastika Investmart
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News in headlines:
* Oil slips as China COVID curbs outweigh concerns over U.S. output
* Copper Prices Sink on Fresh China Woes, Gold Hovers Below $1,650
* Wheat climbs 5.5% as Russia withdraws from Black Sea export agreement
Chart of the day:
GOLD: GOLD yesterday witnessing sharp selling pressure from resistance of 50750-50850 levels, on the upside it has an immediate resistance of 50500, on the downside below 50200 it may head toward 50000-49800 levels. Traders are advised to stay with the momentum with the “Sell on rise” approach.
Technical View:
* Bullion: Day trend is indicating to downtrend in Gold & Silver.
* Energy: Day trend is indicating sideways to upside in Crude oil & Natural gas.
* Base metals: Day trend is indicating sideways to downside in all base metals.
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