mcx energy commodity report for 18 october 2016

crude oil energy commodity report for 18 october 2016

Mcx crude oil future last closed at 3327 with the loss. Crude oil future is in a strong uptrend and consolidating near 3300 for support. On upside 3460 is swing target for this rally. On downside 3300 and 3250 are strong support zones and remain as fresh entry levels for long traders. If crude oil fails to sustain 3300 then expect correction and support testing up to 3100 in medium terms.

natural gas energy commodity report for 18 october 2016

Mcx natural gas future, last closed at 216.5 with the loss. Natural gas prices are cooling down after the strong rally and achieving all its target but outlook still bullish and strategy should be buy on dips. On downside 205 to 209 is strong support area and entry zone for a medium term long traders for targets 225 and 240. Weekly closing below 209 means deep correction chances up to 193 rupee level.

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