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Gold retreats from 2-week high as dollar snaps 3-day loss - Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Canada regulator to make preliminary decision on Trans Mountain expansion tolls
* Gold retreats from 2-week high as dollar snaps 3-day loss
* Oil rallies, then falls back as US hits record production
CHART OF THE DAY
CRUDEOIL
CRUDEOIL is continuing its bearish momentum, and there are no signals of recovery where 6800 is an immediate target level. On the upside, 7100 intraday and immediate resistance levels while 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 sideways in Gold &Silver.
* Energy: Day trend is indicating sideways to down side in Crude oil & Natural gas
* Base metals: Day trend is indicating sideways to down side in all base metals
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