Thursday, 24 December 2015

Commodity Market Energy News For Today

Crude Oil (Rs/Bbl):
Jan. Crude Oil prices can test its immediate resistance zones between 2459—2480 zones. Fresh selling can be seen as prices enter these areas. A break below 2386 will push prices lower towards support at 2327/2276 levels. A daily close above 2495 will be the first sign of a near term reversal in the counter.

Natural Gas (Rs./Mmbtu):
Natural Gas can bounce higher until prices stay above 122 levels on a closing basis. Areas between 128—129 are strong resistance zones for the counter. The pullback rally will advance towards 132/133 levels once prices breakout above 129 levels. A daily close below 122 will push prices lower towards 118.80/117.50 levels again.

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