Energy intraday

Weekly Crude Oil Inventory Expectations:

· U.S. crude-oil inventories in the week ended March 14 probably rose 2.3 million barrels, according to the median of eight responses in a Bloomberg News survey. It would be the ninth increase in 10 weeks.

· Gasoline inventories probably fell 400,000 barrels from 236 million barrels the week before, according to the median of responses.

Major Headline:

· Crude oil rose in New York on speculation a likely U.S. interest rate cut today will drive the dollar down further, prompting investors to buy commodities.

· Oil retraced some of yesterday's 4.1 percent drop as the dollar fell for the fifth day against the euro. Traders increased bets that the Federal Reserve will cut its benchmark interest rate by as much as 1 percentage point today.

· The Organization of Petroleum Exporting Countries shouldn't intervene to dampen prices,Qatar's Oil Minister said.

· Exxon Mobil Corp.'s freeze on $12 billion of assets belonging toVenezuela's state oil company was overturned by aU.K. court in a setback for theU.S. energy company in its dispute with President Hugo Chavez.

· Natural gas advanced, led by forecasts for colder weather in much of theU.S. for the next two weeks, and a rebound in crude oil.

· Below-normal temperatures will sweep into theMidwest and Northeast, the regions of highest gas consumption, by March 20 and intensify in the following week, MDA Federal Inc.'s EarthSat Energy Weather said. Oil gained, lifting gas, on speculation an interest rate cut expected today will weaken the dollar, encouraging investors to buy commodities.

MCX Crude Oil April (Daily Chart)



Technical Outlook:

Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.

Recommendations:

MCX Crude Oil April: Buy at 4235 Target 4290 and 4315 Stop loss 4185



MCX Natural gas April (Daily Chart)



Technical Outlook:

Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.

Recommendations:

MCX Natural Gas April:
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