Tuesday, 23 February 2016

Natural Gas and Crude Oil Report of Commodity Market

Inverted head & Shoulder pattern breakout is visible in MCX Crude Oil prices at 2241 levels. Counter is trading above its neck line support, which adds more bullish bias. Moreover, prices are trading above 21 EMA on hourly. 

Furthermore, The momentum indicator RSI is trading above 60 levels which gives positive confirmation to the prices. For now we expect prices to move higher towards 2410 levels in coming trading sessions.

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