Monday, 7 December 2015

Commodity News on Natural Gas and Crude Oil

Crude Oil (Rs/Bbl):
Dec. Crude oil prices rallied after taking support around 2700 areas yesterday. Momentum above 2810 will push the counter higher towards 2855/2895 levels. The intraday outlook will remain positive until prices stay above 2745 levels. A break below 2745 will push the counter lower towards 2700/2680 levels again.

Natural Gas (Rs./Mmbtu):
Natural Gas prices have managed to hold on to its support around 144 levels. Further upside in the counter is likely only if prices trade above 149 levels. Prices will rally towards 151/152.80 levels in that case. Failure to trade above 149 will see prices retrace lower towards 144/143 levels again.

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