Key trading levels to watch out on MCX Crude Oil, Natural Gas futures

The MCX Natural Gas futures are likely to trade with a bullish bias for the remainder of the week as long as prices sustain above Rs 709.50.

Crude Oil

Bias: Positive

Last close: Rs 9,181

Support: Rs 8,800

Resistance: Rs 9,400

The MCX Crude Oil futures have been trading with a positive bias since mid-May. The commodity has since then rallied over 13 per cent from levels of Rs 8,200. 

However, the upmove has been very gradual with Crude Oil prices respecting the resistance around the higher-end of the Bollinger Band on the daily chart, and then retracing and finding support at its 20-DMA. 

The current scenario depicts a similar picture. In the last two trading sessions, Crude Oil futures seem to be facing resistance around the higher-end of the Bolllinger Band placed at