Tuesday, 1 December 2015

Natural Gas and Crude Oil Report

Crude Oil (Rs/Bbl):
Dec. Crude oil prices will weaken further if prices start to sustain below 2810. Prices will slip towards 2740/2690 levels in that case. The counter needs to trade above 2825 to show momentum towards 2865/2895 levels. Broad trading range for the counter is seen between 2900--2700 zones.

Natural Gas (Rs./Mmbtu):
Natural gas prices need to sustain above 152 levels to rally towards 155-156 areas. Failure to do so will see prices slip towards 146/144 zones which are the supports on the downside. Any major downside is likely only on a daily close below 144 levels.

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