Sell Crude Oil Below 4690 SL Above 4740 TGT 4630/4600 - Axis Securities
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Crude oil
MCX Crude oil price is forming head and shoulder patterns and trading near selling confirmation, price is expected to trade negatively. Any breakdown below 4690 next leg of the correction would drag down the price lower towards 4630/4600 levels in intraday. The momentum indicator RSI is forming lower lows which is a bearish sign for the prices.
SELL CRUDE OIL BELOW 4690 SL ABOVE 4740 TGT 4630/4600
Natural gas
MCX Natural gas price is trading the descending triangle pattern, price is expected to trade negatively. Any breakdown below 213 next leg of the correction would drag down the price lower towards 208/206 levels in intraday. The price has started trading below 21,60&100 hourly EMA which is a bearish sign for the prices.
SELL NATURAL GAS BELOW 213 SL ABOVE 217 TGT 208/206
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