Energy Market Outlook and Sector Updates: Nirmal Bang

natural gasCrude oil : Crude has witnessed DOJI formation in daily chart on Friday. So wait and Watch for a the breakout. Bias remains on the downside. Since RSI is trending lower, its more likely to test 3142 and 3088 levels if trades below 3238. Thus one can remain sell on breaching 3230 levels on the down-side, targeting 3190-50 for the day.

Natural Gas: The counter is holding above 168 looks positive in the near term. Since closed above 9DMA. Natural Gas prices are facing resistance of 195, breaching 195 on upside, we can expect to test 200-202 levels. Thus one can remain in long in natural at dips around 180-82.