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COMMODITY OUTLOOK

DAILY COMMODITY MARKET UPDATES

NEWS IN HEADLINE

* Oil prices steady at 2023 highs on tighter supply outlook

* Oil rises on China, US economic data and OPEC+ cut expectations

* Zelenskiy says he struck key deal on pilot training in France

CHART OF THE DAY

CRUDEOIL: CRUDEOIL is continuing its bullish momentum above 7000 levels and there are no signals of weakness where 7100- 7150 is an immediate target level. On the downside, 6850 intraday and immediate support levels while below 6800 leads to further weakness towards the 6750-6700 zone, Traders are advised to stay with the momentum with the “buy on decline” approach.

OUTLOOK:

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

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

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

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