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COMMODITY OUTLOOK

DAILY COMMODITY MARKET UPDATES

NEWS IN HEADLINE

* Oil prices hit two-week low on China fears, hawkish Fed outlook

* Oil prices down on weaker growth in China, US rate hike jitters

* Gold: Spot price back under $1,900 as dollar charges higher

CHART OF THE DAY

CRUDEOIL: CRUDEOIL yesterday witnessing sharp selling pressure from resistance of 6800 levels, on the upside it has an immediate resistance of 6750, on the downside below 6600 it may head toward 6550-6500 levels. Traders are advised to stay with the momentum with the “Sell on rise” approach.

OUTLOOK:

* Bullion: Day trend is indicating sideways to downside in Gold &Silver.

* Energy: Day trend is indicating sideways to downtrend in Crude oil & Natural gas

* Base metals: Day trend is indicating sideways to downside in all base metals.

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