Thursday, 10 December 2015

Commodity News on Natural Gas and Crude Oil

Crude Oil 
Dec. Crude oil prices managed to rebound from its lows at 2462 levels yesterday. Sustenance below 2520 will see prices slip towards 2480/2460 levels again. The counter needs to show momentum above 2575 to test resistance around 2610/2650 levels. The current breakdown has a downside target of 2278 levels.

Natural Gas
Natural Gas prices will continue to pullback higher until prices stay above 138.40m levels intraday. Until then dips towards 139—138.50 will act as support. Prices can advance towards 142 levels in that case. A break below 138 will see the counter weaken towards 135.50 levels again. A daily close below 135 will open downside target of 127 levels for the counter.
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