Natural Gas future daily chart technical analysis
Natural Gas future on Friday closed at 277.8 with loss. On daily chart Natural Gas future momentum is fizzled out on account of profit booking around top. On downside 303 was major support and natural gas prices finally broken that level with strong price action and hit low of 274 in this week. Below 303, natural gas future will remain bearish and will head for sell targets of 250 rupee and then possibly175 rupee can be expected on panic selling. Expect trend reversal above 303 rupee levels only.
Natural Gas future weekly chart technical analysis
Mcx Natural Gas future this week closed at 277 with loss. This was first losing week for Natural Gas future after last 6 weeks continues gains. On chart, Natural Gas technically entered bull market and achieved 240 and 297 investment targets then Natural Gas future entered into super bullish trend and hit super bullish targets of 335 and now below 297 rupee correcting towards 240 rupee support zones and that will be target level on weekly chart. Below 240 next support as well as long term major support will be around 200 rupees.
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