Monday, 8 September 2014

Oil and Natural Gas Stock Price

Crude oil prices are still holding in the range while MCX prices are falling majorly due to Rupee appreciation. Prices are expected to have support at $92.5 i.e. Rs.5600 in MCX and any sustained breakdown below this level will take prices further down towards $91.00 i.e. Rs.5500. On higher side prices can face intraday resistance at $94.00 i.e. Rs.5690.

Natural Gas prices are expected to have resistance at Rs.231.5 and selling can be seen there. ON lower side prices can extend its fall below Rs.226.0. Prices should not move above Rs.233.50 to maintain negative outlook for the day.

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