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COMMODITY OUTLOOK

DAILY COMMODITY MARKET UPDATES

NEWS IN HEADLINE

* Oil steadies on hopes of Venezuela sanctions being eased

* Oil prices extend losses amid M.East uncertainty, Venezuela deal talk

* Gold prices sink as safe haven rally pauses, M. East tensions in focus 

CHART OF THE DAY

NATURALGAS:

NATURALGAS is continuing its bearish momentum, and there are no signals of recovery where 250 is an immediate target level. On the upside, 267 intraday and immediate resistance levels while above 267 lead to further strength towards the 270-274 zone. Traders are advised to stay with the momentum with the “sell on rise” approach

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 to down side in all base metals.

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