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COMMODITY OUTLOOK

DAILY COMMODITY MARKET UPDATES

NEWS IN HEADLINE

* Oil prices nurse steep losses as demand fears outweigh tight supplies

* Oil nearly flat as macroeconomic concerns contend with tighter US supply

* Oil drops for third straight session on weak European economic data

CHART OF THE DAY

NATURALGAS: NATURALGAS is witnessing the bouncing back and manages to hold its 50DMA; however, 250 is an immediate and minor hurdle. Above this, we can expect a short covering move towards the critical resistance of 258–260; on the downside, it has first support around 240, and below 240, it may head towards 234–235

OUTLOOK:

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

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

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

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