On the upside 7150 is immediate resistance level - Swastika Investmart Ltd
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DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Gold sticks above $1,700, ducks market rout as U.S. CPI data looms
* Oil down 3% again on U.S. stockpile build, IEA warns against $100 a barrel
* Oil under pressure as recession fears bite, U.S. CPI data awaited
CHART OF THE DAY:
CRUDEOIL: Crudeoil is Witnessing a Sharp selling , and there are strong signal of weakness where 7000 is an immediate support level. On the upside 7150 is immediate resistance level. While below 7000 lead further weakness toward 6800-6850 zone.
OUTLOOK:
* Bullion: Day trend is indicating to Uptrend in Gold &Silver.
* Energy: Day trend is indicating Downtrend in Crude oil & Natural gas
* Base metals: Day trend is indicating Sideways in all base metals.
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