Silver is respecting its 200 DMA beautifully, but 70320 is an immediate and critical resistance zone- Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Oil steadies as U.S. inventories shrink, Powell speech awaited
* Oil ticks up as drop in US crude and gasoline stocks exceeds view
* Global initiative launched to rate corporate carbon offset claims
CHART OF THE DAY
SILVER:Silver is respecting its 200 DMA beautifully, but 70320 is an immediate and critical resistance zone. Above this, we can expect a short-covering rally towards the 70500–70550 zone. On the downside, 69600 is an immediate support zone, while 68900–68950 is the next support zone.
OUTLOOK:
* Bullion: Day trend is indicating sideways to upside in Gold &Silver.
* Energy: Day trend is indicating sideways to upside in Crude oil & Natural gas
* Base metals: Day trend is indicating sideways to downside in all base metals.
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