Mcx natural gas technical analysis for 16 November 2016
Mcx natural gas on last trading session closed at 186.7. Mcx natural gas is recovering and hit high of 192.
Above 179, mcx natural gas remain bullish and buy on dips. On upside 190 and 195 are short term target while 203 is swing target. This is bounce back phase and it has its target at 203. Closing below 179 means downtrend resumes for target 170-160 and below.
For intraday mcx energy traders can use 178-180 zone as buying opportunity with stop loss for target 187-192.