Oil prices steady after falling on signs U.S. may release more reserves - Swastika Investmart
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News in headlines:
* South Korea rations urea supply amid shortage leading drivers to panic buy
* China coal's last hurrah comes too late for old mining towns
* Oil prices steady after falling on signs U.S. may release more reserves
Chart of the day:
GOLD: GOLD is showing strength and outperforming last two trading sessions where 49000-49200 is an immediate resistance zone above this, we can expect a short covering rally towards 49500-49700 zone. On the downside it has an immediate support at 48500-48600 levels.
Technical View:
* Bullion: Day trend is indicating uptrend in Gold and Silver.
* Energy: Day trend is indicating sideways in Crude oil & downtrend in Natural gas.
* Base metals: Day trend in base metal is indicating sideways.
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