Crude oil extended losses for the second day due to an increase in production from Libya as it took a major step toward reviving its battered oil industry by reopening its biggest field as it will bring challenges for OPEC+ as the alliance of major producers tries to curb global supplies.
No major economic data for the day.
Technical Levels of Crude Oil and other Major Commodities
Gold (Dec)
Gold has its support at 50700 and resistance at 51150.
Break and sustain above 51150 will take it to 51600—51800 levels or else it could test its support again.
Fresh selling will do on a close below 50700.
Trade with the levels only.
Silver (Dec)
Silver has its support at 62700 and resistance at 63800.
Break and sustain above 63800 will take it to 64800—65200 levels or else it could test its support again.
Fresh selling will do below 62700.
Trade with the levels only.
Crude oil (Oct)
Crude oil has its support at 2880 and resistance at 2960.
Break and sustain above 2960 will take it to 3060–3100 levels or else it could test its support again.
Fresh selling will do below 2880.
Trade with the levels only.
Natural Gas (Oct)
Natural gas has its support at 207 and resistance at 216.
Break and sustain above 216.00 will take it to 225—228 levels or else it could test its support again.
Fresh selling will do on a close below 207 levels.
Trade with the levels only.
Aluminium (Oct)
Aluminium has its Support at 150 and resistance at 152.50
Break and sustain above 152.50 will take it to 154.50—156.00 levels or else it could test its support again.
Fresh selling will do below 150.
Trade with the levels only.
