Energy: Crude Oil Prices managed to rose on Friday, driven up as a Venezuela struggles to meet its supply obligations and by ongoing voluntary output cuts led by OPEC. The prices were pushed by supply problems in Venezuela. The prices pull itself beyond the level of $65.50 and currently, it is floating around at the level of $66.
For the day, $64 is expected to act as support and $67.50 as resistance.
Precious Metal: COMEX gold prices continued to be under heavy pressure and plunged to the lower level of $1299.90 from the day’s opening of $1301.20. It clearly indicates the bearish movement and bearish sentiment are intact.
On the other hand, metal is expected to trade within the range of $1310 on the upside and $1280 on the lower side.