Oil continues tumble, losing 6% on week on inflation - Swastika Investmart
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DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Gold pinned below $1,800 as economic uncertainty, strong dollar weigh
* Oil inventories fall by more than expected 6.4M barrels last week: API
* Oil continues tumble, losing 6% on week on inflation, Fed worries
CHART OF THE DAY
ZINC: ZINC formed a cup shape pattern on a daily chart which has immediate resistance at 278 level however 276 is an immediate support level. Onl. While above 278 lead further strength towards 279-281 zone.
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 Uptrend in all base metals.
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