Energy Sector Outlook for Commodity Traders: Nirmal Bang

Crude Oil TradingCrude oil: The Crude prices have rallied after breaching 3180 in the closing. The prices have closed above all the 7, 21 and 40 DMA. Thus prices are expected to shoot up with positive indications from the ADX and rising RSI. The prices are expected to rally up to 3330 taking support from the 7 DMA of 3260.

Natural Gas: The counter is trading range bound after moving above the 180 levels. The rising RSI and MACD indicate positive for the counter. Thus the prices are expected to inch up to 201 levels taking support from the 180 levels of the 21 DMA.