Friday, 18 December 2015

Natural Gas and Crude Oil Report

Crude Oil (Rs/Bbl):
Crude Oil prices have retraced back to its support around 2327 levels. Sustenance below this level will push prices lower towards 2278/2250 levels. The counter needs to show momentum above 2375 to rebound towards 2426/2450 levels again. Until then, intraday rallies will face resistance between 2360—2375 zones.

Natural Gas (Rs./Mmbtu):
Natural Gas prices will move higher only once prices breakout above 123 levels. Momentum above this level will trigger a pullback rally towards 126 levels. Failure to sustain above 123 will see the downtrend resume towards 117.10/113 levels. Next major support is placed around 113 areas.
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