Friday, 8 January 2016

Commodity News on Natural Gas and Crude Oil

Crude Oil (Rs/Bbl):
Crude Oil prices are trading down with a cut of 3.5% currently. The counter will witness pullback rallies towards 2240/2270 areas. Fresh selling can be seen at higher levels. Weakness below 2156 will push prices lower towards 2100/2070 areas.

Natural Gas (Rs./Mmbtu):
Momentum above 156.50 will see Natural gas prices bounce higher towards 157.90/160 levels. The counter may not sustain at higher levels between 160—162 zones. Corrective moves from higher levels will see prices correct towards 149.80/146 zones. The counter needs to sustain above 162 for the rally to advance higher towards 167 areas.
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