Wednesday, 23 July 2014

Energy News Of Commodity Market

Crude:
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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