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 prices nurse steep losses as demand fears outweigh tight supplies
* Oil nearly flat as macroeconomic concerns contend with tighter US supply
* Oil drops for third straight session on weak European economic data
CHART OF THE DAY
NATURALGAS: NATURALGAS is witnessing the bouncing back and manages to hold its 50DMA; however, 250 is an immediate and minor hurdle. Above this, we can expect a short covering move towards the critical resistance of 258–260; on the downside, it has first support around 240, and below 240, it may head towards 234–235
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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