Base metals: Day trend is indicating sideways in all base metals - Swastika Investmart Ltd
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Oil climbs on Mideast contagion fears from Israel-Gaza conflict
* Oil prices surge on SPR refill plans, Middle East fears persist
* Biden revives bid to refill US oil reserve with 6M-barrel purchase
CHART OF THE DAY
CRUDEOIL
CRUDEOIL is still in the sideways trend where the 7500 zone is a first resistance area, while a breakout above the 7500 level can lead to a massive short-covering rally towards 7600–7700 levels again. On the downside, 7200 is an immediate support level, while 7130–7100 is a critical support zone.
OUTLOOK
* Bullion: Day trend is indicating uptrend in Gold &Silver.
* Energy: Day trend is indicating sideways to upside side in Crude oil & sideways to downtrend in Natural gas
* Base metals: Day trend is indicating sideways in all base metals.
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