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COMMODITY OUTLOOK

DAILY COMMODITY MARKET UPDATES

NEWS IN HEADLINE

* Oil prices rise to 10 month-high on China reserve ratio cut

* Oil prices extend rally on China stimulus cheer, tight supply outlook

* Metals and raw materials surge ahead of Federal Reserve's anticipated statement 

CHART OF THE DAY 

CRUDEOIL:

CRUDEOIL is continuing its bullish momentum, and there are no signals of weakness where 7550-7600 is an immediate target level. On the downside, 7400 intraday and immediate support levels While below 7400 leads to further weakness towards the 7350-7300 zone. 

OUTLOOK:

* Bullion: Day trend is indicating sideways to downside 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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