Wednesday, 20 August 2014

Today's Oil and Energy News Trends

Crude Oil prices are showing negative diversion on daily chart so prices should not hold at lower levels. In MCX, Crude oil September prices have strong support at 5600 and as far as prices are holding this support prices should bounce back. Today any fall towards 5635-5645 should be used as buying opportunity. Prices can face intraday resistance 5730.

Natural Gas prices are expected to remain weak till it holds below 241 and prices can again fall to 234.0 and 232.0 levels. Only a sustained breakout above 241 can take prices further higher towards 245.0.

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