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.

Rex Cano Mumbai
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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

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

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