mcx energy weekly : crude heading for 2500

mcx crude oil weekly technical for 24 to 28 aug 2015

Mcx crude oil future this week closed with loss. This was 8th losing week for crude oil future. In these 2 months period crude oil prices slipped from highs of 3800 to low near 2600. Prices sliding down in oversold state that shows passiveness of market towards this commodity. For next week, 2520 is first support and target and below it 2080 will be next support level. on upside 2780 will remain as strong resistance.

mcx natural gas weekly technical for 24 to 28 aug 2015

Mcx natural gas future this week closed with loss. This week natural gas future hit high at 183.2 while low was at 176. Total 7 rupee or almost 4% weekly swing and closed with loss. Natural gas future not sustained weekly breakout and showing fresh weakness sign. For next week below 178 expect lower targets of 166 and below. If sustain above 178 then possible chances of reversal trend.

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Pramod Baviskar

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