Energy Market Outlook and Sector Updates: Nirmal Bang

Energy Sector Outlook for Commodity Traders: Nirmal BangCrude oil: Crude prices traded downwards yesterday, breaching the Strong support at 3300. The intermediate trend in crude have reversed with breaching the trend line, the prices are now trading below the 7 and 21 DMA. The RSI and MACD are dropping down. Thus on can sell crude at every rise below 3350.

Natural Gas: Natural Gas prices are continuously falling in this week. The Prices have reached at the bottom of the July Contract. The ADX is rising with rising –Di, thus the bias remains on the downside. Breaching the support at 177 can trigger further Selling in the counter till 172-174 for the day.