Monday, 15 June 2015

Latest Commodity News on Energy

MCX Crude Oil June as seen in the weekly chart above has opened the week at 3,762 levels and at the starting of the week prices rallied sharply and made a weekly high of 3,955 levels. Later on prices could not able to sustain on higher levels and corrected sharply towards the 3,835 levels. 

This week prices have closed above the previous week’s closing of 3,742 levels and finally closed 3.10% higher at 3,858 levels. Technically prices have formed “Bullish candlestick pattern” which indicates further strength.

MCX Natural Gas June as seen in the weekly chart above has opened the week at 167.60 levels and during the week open and low were the same levels. During this week prices rallied sharply and made a high of 187.10 levels. At the end of the week prices could not able to sustain on higher levels and corrected towards 176.30 levels. 

This week prices closed above the previous week’s closing of 166.90 levels and finally closed 6.35% higher at 177.50 levels. Technically, prices have formed “Bullish candlestick pattern” which indicates further strength.

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