Wednesday, 13 January 2016

Commodity Market Updates on Natural Gas and Crude Oil

Crude Oil (Rs/Bbl):
Crude Oil continue to slide lower. Weakness below 2047 will push prices lower towards 2000/1974 levels. Pullback rallies will face selling around 2114-2125 zones. Major resistance for the counter is seen around 2160 levels.

Natural Gas (Rs./Mmbtu):
Natural gas prices have retraced from its swing highs at 165.70 levels. A decisive breakdown below 155 will see prices correct further towards 150/148.50 levels. The counter needs to show momentum above 159 to retest 162.50/164 levels.

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