Tuesday, 29 December 2015

Today's Commodity Market Energy Updates


Crude Oil (Rs/Bbl):
Jan. Crude Oil prices will move lower if the counter starts trading below 2480 levels. Prices will correct towards 2426/2390 levels in that case. Momentum above 2540 will push the counter higher towards resistance at 2590—2625 zones. Weakness at higher levels can be sold into by traders.

Natural Gas (Rs./Mmbtu):
Jan. Natural Gas prices will face fresh selling as prices approach 143—145 zones on the upside. Failure to sustain between these zones will trigger a sharp correction in the counter towards 130 levels. A decisive breakout above 145 will see prices rally towards major resistance around 157 levels.

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