Crude oil futures traded up above $83 on positive global cues supported by weaker dollar and strong home sales data. Oil prices traded steadied throughout the day and got hit in evening session as US equity indices opened higher which got push after existing home sales rose 10% on monthly basis.
Natural gas futures traded little down near $3.25 on weak demand with the pressure of high storage in spot market. Natural gas prices may remain under pressure until winter demand picks up.
Hurricane Richard near GoM weakened to tropical storm loosing strength with maximum winds of about 65 mph moving northwest.
NYMEX Crude oil has important resistance at $85 with support at $82.
MCX Crude oil (Nov) has resistance at ` 3780, support at 3670.
MCX Natural gas (Nov) has resistance at 167, support at 158
