Thursday, 10 March 2016

Mcx Market News On Energy

Daily Updates on Commodity Market Only at

Crude Oil (Rs/Bbl):
Crude oil witnessed a sell-off from its resistance at 2600 levels yesterday. Weakness below 2466 will see prices correct further towards 2429/2400 levels. Momentum above 2500 will see prices rebound towards 25308/2550 zones. Areas between 260 —2650 are strong resistance zones for Oil.

Natural Gas (Rs./Mmbtu):
Natural Gas prices needs to sustain above 118.20 to bounce towards major resistance zones between 121—122 zones. Failure to trade above this levels will see prices slip lower towards 114 again. A daily close below 113 will see prices re-test 109 areas.

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