The overall structure of the Gold is very weak where the previous swing low of 50050 - Swastika Investmart
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News in headline:
* Biden touts grain silos on Ukraine border to help exports; Kyiv wants ports open
* Oil prices slip ahead of expected U.S. Fed interest rate hike
* China's teapots crank back to life, aided by cheap Russian oil
Chart of the day:
GOLD: The overall structure of the GOLD is very weak where the previous swing low of 50050 is an immediate and important support level below this 49600 will be the next critical support level. On the upside, the 50500 area will act as an immediate resistance area.
Technical View:
* Bullion: Day trend is indicating downtrend in Gold & Silver.
* Energy: Day trend is indicating sideways in Crude oil & downtrend in Natural gas.
* Base metals: Day trend in base metal is indicating downtrend.
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