Mcx natural gas monthly-watch for targets 250-273

Mcx natural gas monthly report for December 2016

Mcx natural gas monthly report for December 2016

Mcx natural gas future on last trading session closed at 240.9 with strong gains. We saw some consolidation and correction but momentum resumed and ng future hit high near 240.   For month of December 2016, mcx natural gas price trend and momentum remain bullish above 210 pivot level on upside 250 and then 273 are my target zones for this series. On downside below 210, on weekly closing basis downtrend will start for targets 189 and 150 rupees.   Mcx natural gas weekly chart, price trend and momentum both are bullish. On mcx natural gas future achieved target of 199 and now heading for target 252. Weekly closing above 252 means super bullish natural gas for long term with price targets 295 and 348.

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Pramod Baviskar

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