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Gold Pinned Below $1,650, Copper Extends Losses on Recession Fears - Swastika Investmart
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Daily Commodity Market Updates
News in headlines:
* Oil claws back some losses but strong dollar caps gains
* Oil Prices Hover Near 8-Mth Low as Recession Fears Dent Outlook
* Gold Pinned Below $1,650, Copper Extends Losses on Recession Fears
Chart of the day:
COPPER: COPPER is continuing its bearish momentum after four days of consolidation where 623-622 is intraday immediate target levels. On the upside 640 is immediate resistance level while above 640 further recovery we will see in upcoming sessions.
Technical View:
* Bullion: Day trend is indicating to downtrend in Gold & Silver.
* Energy: Day trend is indicating downtrend in Crude oil & Natural gas.
* Base metals: Day trend is indicating downtrend in all base metals.
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