NGAS weekly technical report for 9 to 13 may 2016

NGAS weekly technical report for 9 to 13 may 2016 Nymex natural gas weekly chart technical analysis Nymex natural gas future this week closed with loss at 2.08$. On weekly chart, after recovery from lows of 1.6$, nags prices consolidating around major average supports.   On downside 2$ and 1.8$ are strong support areas while on upside 2.3$ is major resistance as well as medium term tgt.   Traders above 2$ keep buy on dips view for natural gas future with minimum price tgt 2.3$.   Ngas Weekly closing below 2$ means primary downtrend continuation signal.

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Pramod Baviskar

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