Natural Gas has given a negative close below 220 levels - Swastika Investmart
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NEWS IN HEADLINE
* Oil prices held back by weak Chinese data, hawkish Fed signals
* Factbox-Biden budget to target U.S. fossil fuel subsidies
* Gold prices pinned near 2023 lows as Fed fears persist
CHART OF THE DAY
NATURAL GAS:
Natural Gas has given a negative close below 220 levels. However, still, 220 is acting as a minor hurdle; above this, we can see further upside towards 227-235 levels. On the downside, 200-205 is an immediate demand zone; below this, we can expect intraday weakness towards 195-190 levels, and the momentum will remain volatile.
OUTLOOK:
* 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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