Thursday, 17 December 2015

Natural Gas and Crude Oil Report

Crude Oil (Rs/Bbl):
The pullback rally in crude oil will continue only once prices start to trade above 2550 levels. Until then rallies will face resistance around 2525—2550. Intraday support for the counter is seen between 2440— 2420 zones. A daily close above 2550 will push prices higher towards major support zones between 2616/2650 zones.

Natural Gas (Rs./Mmbtu):
Natural Gas prices are trading down with a cut of 2.50% currently. Sustenance below 120 will see prices slip towards 116.60/112.80 levels. The counter can witness a sharp intraday pullback rally towards 123.55/125 zones if prices show momentum above 122.50 levels.
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