Thursday, 31 December 2015

Today's Commodity Market Energy Updates

Crude Oil (Rs/Bbl):
Failure to sustain above 2540 will see crude oil prices drift lower towards 2442/2426 levels. A daily close below 2426 will see prices correct towards 2373/2350 levels again. A decisive breakout above 2540 will trigger a pullback rally towards 2585/2616 levels.

Natural Gas (Rs./Mmbtu):
Jan. Natural Gas prices have retraced from its resistance zones between 155—162 zones. A break below 149.50 will push the counter lower towards 146 areas. A re-test of 160 levels is likely if prices show momentum above 154 levels again. Buying support can be seen as prices approach 145—146 zones.

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1 comment:

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