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COMMODITY OUTLOOK

DAILY COMMODITY MARKET UPDATES

NEWS IN HEADLINE

* Oil prices rise as tight supply, China stimulus offsets Fed jitters

* Gold retreats further on eve of Fed decision, copper rises

* Oil prices edge higher on tighter supply, China hopes

CHART OF THE DAY

CRUDEOIL: CRUDEOIL is continuing its bullish momentum after a few days consolidation, where 6500–6550 is an immediate target level. On the downside, 6300–6350 is the intraday and immediate support level, while above 6550 leads to further strength towards the 6600–6650 zone.

OUTLOOK:

* Bullion: Day trend is indicating uptrend in Gold &Silver.

* Energy: Day trend is indicating uptrend in Crude oil & Natural gas

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

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