Gold edges lower, copper slides on disappointing Chinese data - Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Gold edges lower, copper slides on disappointing Chinese data
* Oil dips further after sharp losses as weak Chinese data weighs
* Oil edges up after steep losses ahead of US debt ceiling vote
CHART OF THE DAY
CRUDEOIL: CRUDEOIL yesterday again witnessed sharp selling pressure from resistance of 5950-6000 levels. On the upside, it has an immediate resistance of 5850, and on the downside, below 5700, it may head towards 5650-5600 levels. Traders are advised to stay with the momentum with the "sell on the rise" approach.
OUTLOOK:
* Bullion: Day trend is indicating to sideways in Gold &Silver.
* Energy: Day trend is indicating downtrend in Crude oil & Natural gas
* Base metals: Day trend is indicating sideways to downtrend in all base metals.
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