Bullion: Day trend is indicating downtrend in Gold &Silver - Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Oil edges up amid brutal week of losses, markets await US jobs data
* Oil on track for sharpest weekly decline since March
* Canada welcomes panel directing US to review softwood lumber policy
CRUDEOIL:
CRUDEOIL is continuing its bearish momentum, and there are no signals of recovery where 6850–6800 is an immediate target level. On the upside, 7100 intraday and immediate resistance levels below 6800 lead to further weakness towards the 6750–6700 zone. Traders are advised to stay with the momentum with the “sell on rise” approach
OUTLOOK:
* Bullion: Day trend is indicating downtrend in Gold &Silver.
* Energy: Day trend is indicating downtrend in Crude oil & uptrend in Natural gas
* Base metals: Day trend is indicating downtrend in all base metals.
