Wednesday, March 9, 2011

Commodity MCX Energy (Crude oil, Natural Gas) Report

CRUDEmcxMAR

Technical Levels
R3
4900
R2
4860/4880
R1
4790/4835
Pivot
4720
S1
4670/630
S2
4590/4540
S3
4480
  Technical Commentary:
If unable to cross above 4790-4800 day’s bias would be range bound with largely negative bias, and such moves may take prices towards 4710/4668 later. A direct rise above 4810 would be a strong bullish signal towards 4850/4920 levels.

Trends:
Intraday--> Consolidate
Near term--> Up

NAT. GASmcxMAR
Technical Levels
R3
190
R2
184/186
R1
181
Pivot
177.50
S1
176
S2
174/171
S3
168/164
Technical Commentary:
While 174/71 holds expect to move higher towards 181/185. We favour bearishness only a cross below the strong support 169.

Trends:
Intraday--> Up
Near term-->Down

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