Tuesday, 20 January 2015

Base Metals News and Tips for Today

Crude oil prices are facing resistance on the higher side around 3050- 3060 levels. Overall trading range for the day is seen between 3070 to 2950 levels. A close below 2950 will see prices correct back towards 2900 to 2850 zones. Counter needs to show momentum above 3070 for prices towards 3150 levels.

Natural gas prices are currently trading below its key support at 188 levels. Sustenance below this level will be a bearish sign for the counter and we expect the counter to correct back towards 180 levels. Major resistance for the counter is seen at 200 and a close above this level will bring about a decisive up move in the counter. 180-179 zones are crucial support for prices.

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