mcx energy commodity report for 21 october 2016

mcx crude oil commodity report for 21 october 2016 Mcx crude oil future last closed at 3395 with the loss. Mcx crude oil achieved both given targets of 3325 and 3460. Now coming down on profit booking through outlook still bullish. On downside crude oil future major support is at 3325 and it will might test it. If close below 3325 then expect a clear sell off for target 3100 on the downside. On upside above 3460 expect another short covering rally for targets 3550. Mcx crude oil above 3460 become super bullish and targets will be 3680 and 3820. mcx natural gas commodity report for 21 october 2016 Mcx natural gas future, last closed at 210.3 with the loss. Natural gas future is coming off the highs as expected after achieving my given swing targets of 210 and 224. Here 207-209 is major support and closing below it means downside up to 193 in short term but if sustain above it then expect upside up to 224 again. Above 224 natural gas future will be super bullish for targets 240 to 255.For mcx energy, commodity trading tips on WhatsApp with live support and follow-ups join our mcx tips service.

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Pramod Baviskar

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