energy commodity weekly technical outlook for 9 to 13 jan 2017

mcx crude oil weekly technical outlook for 9 to 13 jan 2017

Mcx crude oil weekly-remain buy targets 3835 and 4010

Mcx crude oil future this week closed with gain. This was fourth week of gain. If we drop on small negative closing week then it will be straight eight positive gaining week for oil future. On chart last session positive closing suggesting that consolidation and correction phase is over and crude oil now heading for 3835 and then 4010. On downside 3535 is major support zone. From long term view, crude oil future is heading for 4300 and 4960.   mcx natural gas weekly technical outlook for 9 to 13 jan 2017

Mcx natural gas weekly-remain sell tgt 203

Mcx natural gas future this week closed with biggest loss at 223. This week high was around 260 rupee while low was at 215. Almost 45 rupee drop or 18% loss in price in 1 week. Mcx natural gas trend and momentum both are bearish. We saw breakdown at 246 rupee levels and on downside 229 and 203 are support zones as well as target out of which 229 achieved. Below 230 traders keep bearish view and expect target of 203 rupee. From long term view, natural gas is heading to test 208 support zone.

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