Tuesday, 22 March 2016

Mcx Crude Oil and Natural Gas Price Forecast

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MCX Crude oil. It suggests that prices are making higher highs and lows. Any pullback till 2619 would be good buying opportunity for traders to go long for target of 2900 levels. On the downside, immediate support is located at 2430 levels.

MCX Natural gas. It suggests that prices are making lower highs in the short term. It is expected to turn on the downside till 120.80 levels. On the upper side, immediate resistance is located at top to top trendline level of 130.10 levels. Momentum indicator is likely to trade in bearish range only.

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