Energy Market Outlook and Sector Updates: Nirmal Bang

crude-oilCrude oil: The counter is seen resisting the 21 DMA on the closing basis. The counter traded negative yesterday and closed below the 7 DMA also. The RSI dropped yesterday with fall in prices; RSI may even breach the MA if prices continue downside. The –DI remains on the upside, which indicates downtrend in the counter. Thus the counter may test 3250 and 3225 levels as long as prices traded below the 3360 levels.