Mcx natural gas weekly-heading for target 179

Mcx natural gas weekly-heading for target 179 Mcx natural gas weekly technical analysis 7 to 11 November 2016 Mcx natural gas future this week closed at 186 with heavy loss. After last week’s high volatility ng prices continue to fall in this week. This week top was around 212 and low was around 182, total 20 rupee fall from top.   Below 203 rupee resistance, mcx natural gas continue its downtrend and heading towards my target of 179 rupee. Below 179 expect deep downside up to 160 to 155 rupee in November series.   Risky commodity traders and investors can buy mcx ng future around 175-180 zone for big bounce back move up to 203 rupees.

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Pramod Baviskar

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