Wednesday, 23 July 2014

Energy News Of Commodity Market

Aug Crude Oil prices hit an intraday high of 6254 levels but prices couldn’t sustain at the higher levels. Intraday corrections will find support around 6150 levels. A major fall can be seen only if prices start trading below 6150. For the day 6240-6250 area will act as resistance.

Natural Gas:
Natural Gas prices have closed with a loss for the 4th consecutive session of trade. We would like to caution traders that since prices are looking extremely oversold a pullback attempt towards 231-232.50 zones cannot be ruled out in the counter. If prices sustain below 228.50 then it will correct further to 226/225 levels.

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