Tuesday, 19 January 2016

Commodity market News on Natural Gas and Crude Oil

Natural Gas and Crude Oil latest update only at

MCX Crude oil. It suggests that prices are trading in steep downtrend. However, it is expected to hold above immediate support of 2020, support provided by trend line support and lower Bollinger band. Although, prices need to move above 2215 to confirm upside reversal. If it is taken out then upside can be seen upto 2470 levels.

MCX Natural gas. After gaining for 3 consecutive weeks, prices lost by 12 percent or by `20 before settling down at 142.90 levels. Negative crossover on RSI and break below 20DMA suggests further downside in the prices. Hence, it is expected to correct down till 127 levels. However, On the upside, cross of 147 could take it through 16 levels.

No comments:

Post a Comment