Crude trading range for the day is 5499-5525. Support for Crude is at 5508 and below could see a test of 5499 level, and resistance is now likely to be seen at 5521, a move above could see prices testing 5525.Technically market is trading in the range as RSI for 18 days is currently indicating 60.96, where as 50DMA is at 5422.46 and crude is trading above the same.
Crude ended higher on hopes that weaker-than-expected growth data will spur the U.S. Fed to initiate more monetary-easing. Oil futures got support from Wall Street, which advanced for a fourth straight day, as stronger earnings from bellwether stocks overshadowed the weaker-than-expected GDP data.
Natural Gas trading range for the day is 115.57-117.77. Support for Natural Gas is at 116.1, a break below could see a test of 115.6 and where as resistance is now likely to be seen at 117.2, a move above could see prices testing 117.8.
Natural gas yesterday traded with the positive node and settled 0.86% up at 116.7 as investors begin to bet that prices have spurred demand and may result in production cuts.
Crude ended higher on hopes that weaker-than-expected growth data will spur the U.S. Fed to initiate more monetary-easing. Oil futures got support from Wall Street, which advanced for a fourth straight day, as stronger earnings from bellwether stocks overshadowed the weaker-than-expected GDP data.
Natural Gas trading range for the day is 115.57-117.77. Support for Natural Gas is at 116.1, a break below could see a test of 115.6 and where as resistance is now likely to be seen at 117.2, a move above could see prices testing 117.8.
Natural gas yesterday traded with the positive node and settled 0.86% up at 116.7 as investors begin to bet that prices have spurred demand and may result in production cuts.
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