Energy Market Outlook and Sector Updates: Nirmal Bang

Energy Market Outlook and Sector Updates: Nirmal BangCrude oil: We have seen very good breakout in the counter cross over in RSI & MA with +DI and –DI indicate the prices to remain positive in the short run. We are expecting the prices to test 3200 and 3250 in the short term. We can buy around 3070-3100 for the target of 3200 and 3250.

Natural Gas: The counter has given sharp pull back in last week prices looks positive above 188. Positive crossed over in +DI and –DI with RSI trending higher and close above 65DMA indicate the prices should remain positive for the short run. The trader can book profit around 185-186 levels and fresh position only can be taken above 189-190 levels for the target of 197-198.