Energy Market Data and Market Trading Tips from Technical Analysts
Crude oil: Crude oil prices are moving southwards after breaching the trend-line. The RSI is also continuously declining, also –DI have crossed +DI, thus indicating bearish for crude in short-term. However Support can come in at 3060 levels for the day.
Natural Gas: Natural Gas prices are continuously heading downwards after breaching the 7 and 21 DMA. The MACD have entered the negative territory. The ADX is slightly rising with rising –DI, which indicates negative for the counter. However the prices are expected to take support at the bottom around 165-167, breaching this levels can trigger further downside in the counter.