Oil Retreats After Hitting Six-Week Highs Near $70 a Barrel | Today Commodity Market Outlook 23 March 2018.


Bullion - Opens on positive Note Gold -30650-30700 Silver -38800-38860 

Energy - Opens on mixed Note Crude Oil - 4245-4230 Natural Gas -170.60-170-80 

Base Metals - Opens on mixed Note Copper -435.50-437 Nickel -853.50-854 Lead -153.50-153.40 Zinc - 209.60-209.40 Aluminium -133.70-133.80



Gold has started a week on positive note and rising form last four days; which intimate recovery in the counter. On the daily chart, MCX Gold price has recovered after taking a support of lower Bollinger band; which was the reversal point for the prices.

Silver has bounced from lower Bollinger band formation; which act as support for the prices. Moreover, price has also moved above 61.8% retracement level; which is a another support confirm the bullish move in the counter.

Copper prices on Thursday edged lower from the three-week lows. On a weekly chart, Copper has given rising wedge formation breakdown; which informed bearish trend for near term.

On a weekly chart MCX Zinc has been falling down from last couple, where it has given rising trend line breakdown and sustained below it. Moreover, Price has slipped below 50 DEMA on weekly chart; which suggest downward trend for medium term.

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