NYMEX NATGAS weekly : expect recovery up to 2.1$

nymex natural gas commodity technical analysis for 21 to 25 march 2016

nymex natural gas commodity technical analysis for 21 to 25 march 2016

Nymex natural gas this week closed with gain. This was second positive week for ng prices after making bottom at 1.6$.   On weekly chart price trend is down for this commodity but momentum is building for recovery rally. Above 1.8$ support this rally will continue for targets 2.1$ and then 2.55$ targets.   Traders with long positions must keep stop loss below 1.8$ and expect 2.1$ and then 2.55$ targets for natural gas future in short to medium terms.

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Pramod Baviskar

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