Wednesday, 2 December 2015

Natural Gas and Crude Oil Report

Crude oil prices are trading around its immediate support areas between 2800 2780. A decisive breakdown below 2780 will see prices correct towards 2709/2690 levels. Upside momentum will be seen once prices start to trade above 2855 levels. The counter can rally towards 2902/2925 levels in that case.

Natural gas prices will remain negative until prices stay below 153 levels. Intraday rallies will face resistance between 152—153 levels. A break below 147.50 will see prices correct towards next support at 144. A daily close above 153 will see prices rebound towards 156.50/157 levels.

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