Friday, 9 October 2015

Mcx Commodity Market Crude Oil and Natural Gas Updates

                                                                             Crude Oil
Crude oil prices sold-off post the inventory data yesterday. Failure to break below 3100 will see prices rebound towards 3200-3210 levels again. Fresh selling can be seen as prices approach these levels. The outlook will be that of sell on rise until prices stay below 3260 levels. A break below 3100 will open downside targets of 3050/3040 for crude.

Natural Gas
Oct. Natural Gas prices need to break above 165 levels for a positive reversal in the counter. A decisive break below 159 will open downside targets of 155 levels in natural gas. A breakout above 165 will see prices rebound towards 167.60 levels.

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