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COMMODITY OUTLOOK

DAILY COMMODITY MARKET UPDATES

NEWS IN HEADLINE

* Oil gains on supply woes after OPEC+ output cuts

* Oil prices push higher as Saudi, Russian cuts spell tighter supply

* Oil prices settle at 10-month high as Saudi, Russia extend supply cuts

CRUDEOIL: CRUDEOIL is continuing its bullish momentum above 7000 levels and there are no signals of weakness, yesterday it given close around 7218 with big bullish candle, where 7300-7380 is an immediate target level. On the downside, 7050 intraday and immediate support levels while below 7000 leads to further weakness towards the 6950-6900 zone, Traders are advised to stay with the momentum with the “buy on decline” approach.

OUTLOOK:

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

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

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

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