mcx natural gas weekly-recovering towards 129+

mcx natural gas weekly technical analysis for 14 to 18 march 2016

mcx natural gas weekly technical analysis for 14 to 18 march 2016

Mcx natural gas future this week closed with gain. This week ng low was at 109 and high was at 124+. Total 15 rupee move from bottom with strong recovery signals on chart.   Mcx natural gas future outlook is bullish on account of strong recovery rally. On downside, natural gas future support zones are 110 and 104. On upside 129.5 is strong resistance and first target zone for next week. Above 129.5, trend will change on bull’s side and expect bullish cycle thereon.   Above 130 traders can expect 143 as first target and 160 as second target for March series.

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