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Friday, April 22, 2016

Update on Crude Oil and Natural Gas 22 April 2016






Crude Oil




We recommended buying in Crude oil above 2820. If flared and made a high of 2965 and now trading around 2910


Now what to expect???


Support at 2870 and Resistance at 2970


Weekly close below 2870 will take to 2805---2790. More and more downside panic will see only close below 2790 mark else it could test its resistance level of 2970 again


Close above 2970 will take to 3020---3080+ mark in days to come


Crude oil is forming double top pattern on hourly chart and confirmation below 2870 level only. Till then traders can trade safely with levels only and wait for confirmation


Anything seems will update via App











Natural Gas






Support at 135 and Resistance at 141.50


Two consecutive closes above 141.50 will take to 145---148+ mark in days to come else it could test its support level of 135 again


Further downside panic will see only close below 135 mark


Trade with levels only
















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