Uptrend in Crude oil capped at Rs 6,760; Pivot for Natural Gas at Rs 285

In case Rs 285 holds, Natural Gas futures can potentially rally to Rs 344.

markets, stock market, brokers, brokerages, sensex, correction, nifty, shares, growth, profit, economy, gain
Web Exclusive Premium

Rex Cano Mumbai
The MCX Crude Oil futures have pulled back above the 50-DMA after almost two months, sustained trade above the same is the key for further strength. Given the current chart set-up, the commodity is likely to face considerable resistance around the 100-DMA at Rs 6,740 level.

Natural Gas futures have been consolidating around the Rs 285 level for the last two weeks. While a short-term pullback cannot be ruled out, break and sustained trade below the support level can trigger a fresh slide at the counter.

Crude Oil
Bias: Marginally Positive
Last close: Rs 6,508
Target: Rs 6,740; Rs 6,760
Support: Rs 6,453; Rs 6,425
Resistance: Rs

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 18 2023 | 10:11 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com