Wednesday, July 1, 2009

Crude Oil Technical Analysis 1st July 2009

Crude oil could be heading Down For Much lower trgts if breaks the Neckline at 68.75 Zone with volumes and trades below that a day More,

Possible Downward trgts -- height of head 1.e 5 $ ..So we Could see Crude Coming Down to 63.5 Levels In coming Days , Maintain SL of 71 On all Shorts For Same

natural gas Technical Analysis 1st July 2009

Natural Gas after Reversing From the short term bottom of 3.255 has been trending in A larger traingle as Indicated in graph, Currently trading at 3.783 Which Is almost Near the lower End of triangle ,
Looking From the onther angel view its been Sideways in a channel for past two week who's Support is also nearby at 3.750 Levels . Natural gas gives lot of whipsaws So as to trade the pattern being on Safe side . If NG breaks 3.715 Level as Indicated it open Downward trgts of 3.570 Which is good 8-10 % down , Looking on the upside it has Strong Resistance at 3.950 & 4.14 Levels a Move past that would Indciate the Recent down Fall has halted From 4.375 and the trend turns to be Netural still traidng inside larger triangle and one has to wait to see which side it gives a fresh breakout

Note : We have a open Reco Postional NG short at 186 MCX price With Sl at 194

Crude Technical Analysis 1st july 2009

Crude Oil Daily Charts : Crude Oil has Been Trading in the range of 73.5 $ --66.5 $ , With Minor Double top at 73.5 but the distance between them is too Small to take a larger view on it , On ther other side its shapeing up in a Ascending trinagle With Supports coming in From upward trendline Drawn and marked with blue arrows, With the Inventory Data Expected today , We Feel On Breach of 68.75 $ Crude will head down again to Re test the Lower End of Range at 66.5 $, While On the upside will Face strong Resisatnce at 72.25 $ and 72.80 $, A Closing above 73.1 $ could bring chance of trend change with it opening new Upside Range of 73$--78$ , A Close Below 66.5 Could open Downward trgts of 63.5--58.9. Further till than trading the Range will be best option Sell On rise & buy on dips Inside the Range