Published on 28/10/2021 5:41:59 PM | Source: Axis Securities Ltd
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Crude oil
MCX Crude oil price has given negative breakout from trend line channel, price is expected to trade negatively. Sustaining below 6090 would drag the price lower towards 6030/6000 levels intraday. The price has started trading below 9,21&60 hourly EMA which is a bearishness in the prices.
SELL CRUDE OIL BELOW 6090 SL ABOVE 6130 TGT 6030/6000
Natural gas
MCX Natural gas price is trading near the resistance of ascending triangle pattern, price is expected to trade positively. Any breakout above 467 would push the price higher towards 473/476 levels intraday. The price is failing to trade below 20 hourly EMA which shows strength in the prices.
BUY NATURAL GAS ABOVE 467 SL BELOW 463 TGT 473/476
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