Oil nudges higher after China opens borders - Swastika Investmart
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DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE:
* Oil prices rebound on China reopening optimism, easing Fed fears
* Oil nudges higher after China opens borders, lifts fuel demand outlook
* Energy & precious metals - weekly review and outlook
CHART OF THE DAY:
COPPER: COPPER showing and outperforming for the last two trading sessions where 740 is an immediate resistance zone above this, we can expect a short covering rally towards 750-760 zone. On the downside, 720 is an immediate support level, while 710 will be the next important support level.
OUTLOOK:
* Bullion: Day trend is indicating sideways to upside in Gold &Silver.
* Energy: Day trend is indicating downtrend in Crude oil & downtrend in Natural gas
* Base metals: Day trend is indicating sideways to upside move in all base metals.
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