26-10-2023 09:12 AM | Source: Swastika Investmart Ltd
Bullion: Day trend is indicating uptrend in Gold &Silver - Swastika Investmart Ltd

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COMMODITY OUTLOOK

DAILY COMMODITY MARKET UPDATES

NEWS IN HEADLINE

* Biden calls for 'path toward peace' once Israel-Gaza crisis is resolved

* Oil steady as market eyes Middle East tensions, higher US crude stockpiles

* Oil prices flat before US GDP data, Middle East concerns persist

CHART OF THE DAY


CRUDEOIL

 CRUDEOIL is witnessing the bouncing back and manages to hold its 100 DMA; however, 7150 is an immediate and minor hurdle; above this, we can expect a short covering move towards the critical resistance of 7250–7280 levels; on the downside, it has an important support level of 6800–6850.

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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