The MCX Crude Oil futures continue to face resistance around the Rs 6,700 hurdle, a level it has been unable to conquer conclusively since mid-November. However, select momentum oscillators have now turned favourable, hence, the commodity could seek support at higher levels as it consolidates.
Meanwhile, Natural Gas futures continue to trade with a bearish bias. Although, the commodity seems oversold on the daily chart, the monthly chart indicates a possibility of more pain ahead.
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Subscribe To Insights
Key stories on business-standard.com are available to premium subscribers only.Already a BS Premium subscriber? Log in NOW
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.