Mcx natural gas weekly-hit 191 sell target and now next target 184

Mcx natural gas future weekly technical analysis report for 12 June to 16 June 2017

Mcx natural gas future this week closed at 196 with gain. After last week’s losses this week we saw short covering and bounce back from 191 support levels and ng prices closed in green for week. This week mcx natural gas future hit my given sell target of 191 and now next downside target will be 184.

Mcx ng future price trend and momentum both are bearish. Below 208.5 mcx natural gas future will remain weak and sell on rise for targets 191 and then 184. For next week watch breakdown below 191 for target 184.

From long term view, mcx natural gas future given bullish breakout above 208 rupee resistance but not sustained above it and now heading for 170 to 150 rupees long term support zones.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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