Immediate hurdle for Crude Oil seen at Rs 6,400; Natural Gas at Rs 589

On the downside, Rs 5,850 seems to be a good support for Crude Oil; Whereas Natural Gas futures have multiple supports as per the daily chart.

The MCX Crude Oil futures continue to trade with a negative bias, as the commodity trades below all its key moving averages. On the other hand, the Natural Gas futures has climbed above few of its moving averages and is seen testing resistance at its 100-DMA for the third time in little more than a month.

Crude Oil

Bias: Negative

Last close: Rs 6,275

Target: Rs 4,800

Support: Rs 5,850

Resistance: Rs 6,400

The MCX Crude Oil December futures have bounced back after testing support around the lower-end of the Bollinger Bands on the daily chart at Rs 5,850 level. Despite the pullback, the overall