Natural gas forecast 9 to 13 June 2014
Natural gas daily chart technical analysis
Natural gas future on last trading session closed at 279 rupee with loss. On daily chart, ng future trading above short term averages with strong bullish patterns. For next week, natural gas has support zones around 275 which is its 3 month average and below it 272 which is its 1 month average. On upside 290 and 320 rupees are strong resistances and target zones for next week. Traders above 272 keep buy on dips view here and expect targets 290 to 320 rupees in next week.
Natural gas weekly chart technical analysis
Natural gas future this week closed with gains of 3%. This was second gaining week for natural gas prices after taking support at 12-month averages. From medium to long-term view, Natural gas future has support at 255 and 240 rupees. 255 is 12-month average and 240 rupee is 24-month average level while on upside 290 and 320 rupees are strong resistances. Weekly chart indicators patterns are bullish. Investors above 255 rupee keep buy on dips view for target 290 and 320 rupees.