Tuesday, 24 November 2015

Commodity Market Energy News

MCX Crude oil. It suggest that prices are making lower highs and lows. It is trading in short to medium term downtrend channel. It is expected to break lower trendline support and move towards 2550 levels. On upside, immediate resistance is located at 2965 levels.

MCX Natural gas. In the last week, prices failed to cross crucial resistance of 162 levels and reversed on the downside till 145 levels. In the near term it is expected to continue downside move till 122 levels. On upside, 162 is expected to act as crucial resistance level.

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