Mcx natural gas outlook for next week 12 to 16 Dec. 2016
closed at 247.8 with gain. This was forth gaining week for natural gas prices and in these 4 weeks mcx natural gas future rallied from low of 180 rupee to high of 255. Total 75 rupee or 42% rally for this energy commodity future. and we are seeing buying on very major correction.
For next week, mcx natural gas future above 246 remain buy and accumulate. My weekly targets are 256 and 265 rupees.
From month view,achieved my December buy target of 250 rupee and above it next target will be 273 rupee which can be expected in next 1-2 weeks period. Bullish breakout was seen at 211 rupee.
Swing commodity traders with trailing stop loss keep long and expect 273 rupee target for mcx natural gas future in month of December.