Mcx natural gas January 2017 outlook
closed at 251.9 with loss. After last 2 weeks strong rally from low of 221 to highs of 264. Natural gas prices seeing some retracement on profit booking. Mcx natural gas daily chart price trend and momentum both are bullish. Mcx natural gas major support for January series is at 246 rupee level. Above it this energy commodity will remain buy and accumulate for monthly targets of 272 and then 289 rupees. Daily closing below 246 means fresh breakdown and short term bearish trend start for this commodity. On downside 229 and 203 are major support zones as well as target levels on breakdown. From long term view, is in Bull Run and which will continue in 2017 and long term targets are 308 and 360 rupees for investors.