Silver has given a negative close below the 68700 level - Swastika Investmart
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DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE:
* Oil prices extend gains on lower U.S. fuel inventories
* Gold turns flat before payrolls data, copper cheered by China reopening
* Oil rises after U.S. fuel stocks draw down; economic concerns loom
CHART OF THE DAY:
SILVER: SILVER has given a negative close below the 68700 level. However, 69400-69500 is acting as a minor hurdle, above this, we can see further upside towards 70100-70300 levels. On the downside, 67400–67500 is an immediate demand zone, below this, we can expect further weakness towards 67000–66700 levels, and the trend will remain volatile.
OUTLOOK:
* Bullion: Day trend is indicating downtrend 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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