08 March Support & Resistance Level Fundamental & Technical Outlook

Energy

Crude surges 5% amid reports that OPEC oil could hit $50 a barrel

Crude futures surged more than 5% on Monday, after a report surfaced that OPEC producers are privately crafting a strategy to stabilize the price of oil at $50 a barrel.

Bullions

Gold hovers near 1-year high, as downbeat wage growth remains in focus

Gold fell slightly on Monday to halt a three-day winning streak, but remained near 13-month highs, as investors digested gloomy U.S. wage growth data from last week.

Currency

Euro falls on ECB stimulus view, dollar firms

The euro fell on Monday on bets of stimulus from the European Central Bank meeting later this week to support fragile euro zone growth, while the dollar firmed following a solid payrolls report last week.

Base Metals

Copper retreats on China qualms, tin hits high

Copper and zinc pulled back from their highest levels in more than four months on Monday, weighed down by a firmer dollar and as misgivings surfaced over China’s ability to shore up economic growth.