Friday, 22 August 2014

Today's Oil and Energy News Trends

Nymex WTI Crude oil bounced back as expected. Today prices are expected to have support at $93.50 i.e. Rs.5720 around in MCX September contract and buying can be seen there. Prices on higher side can give breakout above Rs5765 and can test Rs.5800. Prices should not fall below $93.00 i.e. Rs.5690 to remain positive for the day. 

Natural Gas prices are expected to have intraday resistance at Rs.241 and prices are expected to remain weak till it trades below this. Prices can face intraday resistance at Rs.238.5. On lower side prices can test Rs.230 and Rs.227.

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