Mcx natural gas weekly-achieved 220 target and now next tgt is 230

Mcx natural gas future weekly technical analysis report for 15 to 19 may 2017

Mcx natural gas future weekly technical analysis report for 15 to 19 may 2017

Mcx natural gas future this week closed at 219.3 with gain. Mcx ng future price trend and momentum both are strong bullish.   Natural gas as expected given bullish breakout above 207 and hit my given target of 220 rupee and now heading for next target of 230 rupees. On daily chart, mcx natural gas future support zones are 212 and 208 rupees and remain as fresh buying levels. On upside 220 and then 230 will be target zones.   From long term view, mcx natural gas future given bullish breakout above 208 rupee resistance and now will head for 2017 targets of 308 and above.

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Pramod Baviskar

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