Buy Natrual Gas Above 384 Sl Below 379 Tgt 390/394 - Axis Securities
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Natural gas
MCX Natural gas price has given a bullish breakout from falling trend line channel, price is expected to trade positively. Sustaining above 384 would push the price higher towards 390/394 levels intraday. The hourly momentum indicator RSI is trading at 44 and it is forming higher highs which is a bullishness in the prices.
BUY NATURAL GAS ABOVE 384 SL BELOW 379 TGT 390/394
Crude oil
MCX Crude oil price has given a negative breakout from consolidation i " T i - + range, price is expected to trade negatively. Sustaining below 6100 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 6100 SL ABOVE 6150 TGT 6030/6000
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