Wednesday, 10 February 2016

Mcx Crude Oil and Natural Gas Updates

Crude Oil (Rs/Bbl):
Failure to break below 2130 will see Crude Oil prices rebound towards 2227/2250 levels on the upside. The upside though will remain capped to around 2280 areas until prices close above this level on a daily close basis. This will open upside target of 2345 levels in the counter. A break below 2130 will push the counter lower towards 2064/2030 levels.

Natural Gas (Rs./Mmbtu):
Momentum above 141 will push Natural Gas prices higher towards next resistance zones between 143.90—145 zones. Further upside in the counter is likely only on a daily close above 146. Corrective move from current levels will find support around 136 levels. A decisive break down below 136 will trigger a fall towards 133 levels.
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