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Published on 18/02/2020 5:27:40 PM | Source: Axis Securities Ltd

Buy Natural Gas in the range of 140-139.50 SL Below 137 TGT 144/145 - Axis Securities

Posted in Commodities Reports| #Commodity Tips #Axis Securities Ltd

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Crude oil

Crude oil price has given negative break out from rising trend line channel,price may trade under pressure.Any break down below 3650 next leg of correction would drag price lower towards 3600/3580 levels.On hourly chart price is trading below 9,21&60 EMA which is negative sign for price.RSI is trading at 30 it indicates low momentum in prices.

SELL CRUDE OIL BELOW 3650 SL ABOVE 3690 TGT 3600/3580

 

Natural gas

Natural gas price is trading under rising trend line channel,price is expected to trade positive.Sustaining above 140 next leg of rally would push price higher towards 144/145 levels,Alternatively 137 remain strong support level in intraday.On hourly chart price has been trading above 60EMA which is positive  sign for price.RSI is trading at 70 it indicates higher momentum in prices .

BUY NATURAL GAS IN THE RANGE OF 140-139.50 SL BELOW 137 TGT 144/145 

 

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