10-10-2022 11:53 AM | Source: Swastika Investmart Ltd
Oil jumps 4% to 5-week high lifted by OPEC+ output cut - Swastika Investmart
News By Tags | #473 #2911

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Daily Commodity Market Updates

News in headlines:

* Oil takes a breather, eases off 5-week highs

* Oil jumps 4% to 5-week high lifted by OPEC+ output cut

* Oil Slips From 1-Month High as Weak Chinese Data Fuels Demand Fears

Chart of the day:

 

GOLD: GOLD continuing its bullish momentum where 52100 is intraday immediate target level. On the downside 51700 is immediate support level, while below 51700 lead further weakness towards 51500- 51300 levels.

Technical View:

* Bullion: Day trend is indicating to sideways in Gold & Silver.

* Energy: Day trend is indicating uptrend in Crude oil & Natural gas.

* Base metals: Day trend is indicating sideways to downside in all base metals.

 

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