mcx natural gas weekly technical report for 27 june to 1 july 2016

mcx natural gas weekly technical report for 27 june to 1 july 2016 Mcx natural gas future on Friday closed at 181.8 with gain. After correction up to 175 we saw buying on lower levels and once again natural gas resumed uptrend.     On daily chart, mcx natural gas price trend and momentum both are bullish. Above 176 expect upside for natural gas prices. On upside 188 and 195 are resistance zones while on downside 180 and 176 are support zones. Above 176 short term outlook remain bullish for ng prices.     Mcx natural gas weekly chart showing positive closing for week. This was fifth gaining week for ng future. In these 5 weeks’ time frame we saw low of 131 and high of 188. Trend and momentum both are super bullish here and next major move will happen above 188. On downside 170 and 160 are strong support levels.     For mcx tips by sms with support and follow ups visit subscription page.

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Pramod Baviskar

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