Oil jumps 5% after 7 days of losses, boosted by weaker dollar - Swastika Investmart
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News in headlines:
* Oil rises as full U.S. clearance for COVID-19 vaccine stokes fuel demand hopes
* Oil jumps 5% after 7 days of losses, boosted by weaker dollar
* Precious Metals ETFs Advance on Retreating Dollar, Doubts over Fed Tapering
Chart of the day:
CRUDEOIL: It has bounced back smartly near to its 200-EMA where it is likely to head towards its immediate hurdle of 5000. On the downside, 4850 is an immediate support while 4800-4750 is an important support zone.
Technical View:
* Bullion: Day trend is indicating sideways to downside in Gold and Silver.
* Energy: Day trend is indicating downtrend in Crude oil. And support in Natural gas.
* Base metals: Day trend in base metal is indicating downside move.
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