Gold is continuing its bearish momentum and there are no signal of recovery where 51400 - Swastika Investmart
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Daily Commodity Market Updates
News in headlines:
* Oil edges higher on optimism for firmer crude demand
* Oil Muted After Two-day Rally, Still set for Weekly Loss
* Judge rules oil pipeline dispute between Enbridge and Michigan belongs in federal court
Chart of the day:
GOLD:
GOLD is continuing its bearish momentum and there are no signal of recovery where 51400 is an immediate target levels. On the upside 52000 intraday and immediate resistance level. While below 51500 lead further weakness toward 51300-51100 levels.
Technical View:
* Bullion: Day trend is indicating downtrend in Gold & Silver.
* Energy: Day trend is indicating downtrend in Crude oil & uptrend in Natural gas.
* Base metals: Day trend is indicating sideways to upside in all base metals.
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