Energy Market Outlook and Sector Updates: Nirmal Bang

Energy Market Outlook and Sector Updates: Nirmal BangCrude oil: Crude oil prices declined yesterday breaching the previous low and 40 DMA. However prices are seen taking support at the trend line. The RSI and ADX still indicate positive for the counter. But breaching 3225 prices may fall lower to 3150-80 levels for the day.

Natural Gas: The counter declined yesterday breaching the support of 179 and closed below the same at 177.8. The trend for the day can de downwards below 179. The RSI is on the verge of downwards crossover thus one can sell below 177, targeting 171-72.