Thursday, 10 September 2015

Natural Gas and Crud Oil Evening Report

Crude Oil
Crude oil prices are consolidating in a range between 2900 to 3095 levels over the past 2-3 sessions of trade. Failure to break and sustain below 2880 will see prices take support between 2880—2950 and move higher towards 3100 levels. A daily close above 3100 will see prices rebound towards 3150/3213 levels. Traders holding long positions should maintain a stop loss below 2880 on their positions.

Natural Gas
Natural Gas prices closed down with a cut of 2.48% yesterday. Prices though continue to be range bound between 182 to 175.40 levels. Failure to sustain above 180 will see prices dip towards 176/175.50 levels. A decisive break below 175 will see prices correct towards 174 levels. Any major upside is possible only once prices breakout above 182 levels decisively.
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