Energy Market Outlook and Sector Updates: Nirmal Bang

CrudeCrude oil: Crude oil prices have bounced back sharply yesterday exactly from the previous low. The RSI have reversed upwards taking support at the MA. Thus the sentiments in crude have turned positive above 3150 levels. The prices resisted the 41 DMA of 3250 on the upside. Today on breaching 3250 levels prices are expected to test 3330 levels on upside.

Natural Gas: The counter rallied upwards yesterday closing near the high at 181.7. The counter looks positive above the support levels 180. The RSI indicates a cross over on upside, which looks positive for the counter. Thus the counter is expected to move up to 188-90 levels after breaching 182 on the upside.