Mcx crude oil weekly-remain buy above 3535 tgt 3830
Mcx natural gas weekly-hit target 229 now watch for 203
closed at 220.4 with loss. After last week’s bounce back natural gas prices resumed downtrend. This week natural gas hit high around 240 while low was around 219 and closed around low. below 247 achieved its first downside target of 229 rupee and now fresh breakdown is heading for my next target of 203 rupees. For next week, mcx natural gas future below 229 on daily closing basis will remain sell and targets will be 210 and 203. From long term view, natural gas is looking weak and heading towards 208 and 155 rupee support zones to test them. Weekly closing below 208 will triggers downtrend for natural gas for 2017.