MCX Crude Oil and Natural Gas Report : 20th August 2019

Insignia Consultants

New Delhi

Tuesday, 20 August 2019

TIME 9:17AM IST                          

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MCX CRUDE OIL AND NATURAL GAS REPORT

I am more bullish on natural gas than crude oil for the rest of the year. Previous year boom and bust price moves can be there in natural gas anytime from September. Crude oil will break free from $50-$60 wider trading range and form a new range anytime soon.

Crude oil 19^th September 2019: (previous day close/CMP Rs.4036)

1. Key resistance is at 4054. Crude oil needs to break and trade over 4071 to rise to 4126 and 4201.
2. Sellers today will be there below 3996.

Natural gas 27^th August 19 (previous day close/CMP Rs.158.570):

• NG can rise to 165.70 and 173.20 as long as it trades over 153-154 zone.
• Sell off will be there below 153.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani

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NOTES TO THE ABOVE REPORT

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