Energy Market Data and Market Trading Tips from Technical Analysts
Crude oil : Crude prices formed a DOJI candle yesterday by closing near the opening rate. Crude oil prices are giving signs of trend reversal by forming bearish candles on the top. The RSI also is dropping down and MACD is on the verge of crossing the DAV on downside. Thus buyers need to be cautious and book their profits. Aggressive Traders can sell crude between 3475-3500, with Sl of 3580, targeting 3330 and 3250.
Natural Gas: Natural gas prices are moving up above the 9 DMA with the support at 205. The MACD is also seen entering in the positive territory above the Zero line. In addition, ADX also indicate uptrend. Thus, overall natural gas looks in a uptrend and expected to march upwards till the 226 levels.