Natural Gas future daily chart technical analysis
Natural Gas future on Friday closed at 324 with gain. On daily chart Natural Gas future price trend and momentum both are very bullish. On downside 303 is major support and prices are trading in overbought conditions so expect correction and consolidation ahead. If prices slips below 303 support then expect correction and sell off up to 280 to 250 rupee levels. but if sustain above 303 then expect another sharp short covering and levels up to 375 to 430 rupees. Prices will remain highly volatile and trading will be not easy due big range.
Natural Gas future weekly chart technical analysis
Mcx Natural Gas future this week closed at 324 with huge gains. This was sixth gaining week for Natural Gas future. On chart, Natural Gas technically entered bull market and achieved 297 and 335 investment targets in previous weeks. Natural Gas future trading above 297 will enter into super bullish trend and will head higher towards super bullish targets of 335 to 395 rupees.
Natural Gas future weekly chart stochastic is came down from overbought zones but still looking bullish. MACD still holding bullish momentum on weekly chart but topped out.
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