MCX Crude Oil remains range-bound; Natural Gas can bounce back to Rs 255

The MCX Natural Gas futures need to sustain above Rs 209-level, break and sustained trade above Rs 224 can trigger a rally towards Rs 255.

The MCX Crude Oil futures continue to remain range-bound, with near resistance seen in the range of Rs 6,381 - Rs 6,420 range. On sustained trade above the same, Crude Oil futures can rally towards the higher-end of the anticipated trading range. 

Meanwhile, Natural Gas futures are looking to bounce back from oversold territory. The commodity needs to sustain above Rs 209, for a potentially rally towards Rs 255 in the near term.

Crude Oil

Bias: Range-bound

Last close: Rs 6,363

Anticipated Range: Rs 6,100 - Rs 6,750

Resistance: Rs 6,381; Rs 6,420

The MCX Crude Oil futures once again bounced back after testing