energy commodity report for 19 october 2016

crude oil commodity report for 19 october 2016 Mcx crude oil future last closed at 3346 with the loss. Crude oil prices holding above 3300 which are a bullish sign so keep buy on dips view. On upside swing target of 3460 is still intact. On downside 3250 and 3300 support zones for mcx crude oil while 3385 and 3460 are resistance levels for intraday. Mcx crude oil technical set up suggesting breakout above 3460 will turn crude oil super bullish and in that scenario traders can expect higher levels up to 3680 to 3820 in medium terms. Closing below 3300 means strong correction for crude oil prices up to 3100.   natural gas commodity report for 19 october 2016 Mcx natural gas future, last closed at 217.8 with gain. Natural gas future price trend and momentum still strong bullish and expect some time wise correction as well as consolidation here. On downside mcx, natural gas support zones are 214 and 207. On upside 224 and 240 are short to medium-term resistances as well as target zones. Here also expect super bullish rally ahead on a breakout above 224 for targets 240 to 254.for mcx commodity tips on WhatsApp with live support and follow-ups join our commodity tips service.

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Pramod Baviskar

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