Oil extends losses on recession fears - Swastika Investmart
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Daily Commodity Market Updates
News in headlines:
* Oil Prices Head for Third Week of Losses as Recession Fears Bite
* Oil extends losses on recession fears
* Gold, Copper Head for Sharp Weekly Losses as Fed Rate Risks Increase
Chart of the day:
GOLD:
GOLD is continuing its bearish momentum and there are no signal of recovery where 49000- 48800 is an immediate target levels. On the upside 49500 intraday and immediate resistance level. above 49500 lead further recovery toward 49800-50000 levels.
Technical View:
* Bullion: Day trend is indicating to downside in Gold & Silver.
* Energy: Day trend is indicating downtrend in Crude oil & Natural gas.
* Base metals: Day trend is indicating sideways to downside in all base metals
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