Sell Crude Oil Around 4510 SL Above 4540 TGT 4480/4450 - Axis Securities
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Crude oil
Crude oil prices traded volatile in last trading sessiion. Prices managed to hold the support zone of 4400 level and rallied higher up till 4500 level. However, it failed to sustain higher the day's high and settled around 4460 level. Short term trend is negative for prices as it is trading below 60 days EMA and RSI is also below 60 level. Traders can sell Crude oil around 4510 level for the target of 4480 level on intraday basis.
SELL CRUDE OIL AROUND 4510 SL ABOVE 4540 TGT 4480/4450
Natural gas
Natural gas prices edged higher in last trading session after prices broke the strong resistance zone of 205 and rallied higher up till 209 level. On hourly chart prices is trading above 20 and 60 days EMA and RSI is also above 60 level indicating high momentum in prices. Any dip around 205 can be used as an buying opportunity for the target of 208 on intraday basis.
BUY NATURAL GAS AROUND 205 SL BELOW 202 TGT 208/212
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