Tuesday, 19 August 2014

Today's Oil and Energy News Trends

Crude Oil prices are showing negative diversion on daily chart and will not let prices fall further down. There will be sharp recovery at lower levels. Prices are expected to have intraday support at $95.8 i.e. Rs.5830-5835 and intraday buying can be seen there. On higher side prices will again face resistance at $97.5 i.e. Rs.5910 and remain capped at this level.

Natural Gas prices are expected to have resistance at 233.0-234 and selling can be seen there. On lower side prices have support at 224.0 and can again bounce from there. Prices are expected to remain weak till it remains below 236.0 for the day.

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