Natural Gas future daily chart technical analysis
Natural Gas future on Friday closed at 265.8 with gain. On daily chart Natural Gas future is in downtrend and we saw breakdown at 303 rupee level and then natural gas future hit its bearish target of 250 rupees. Now bouncing back and consolidating. Below 250 next major support as well as next bearish target level will around 176 rupees. On upside 275 to 280 rupee zone will remain as strong supply zone. If gives breakdown below 250 rupees then go short with stop loss for target 176 and below.
Natural Gas future weekly chart technical analysis
Mcx Natural Gas future this week closed with loss. This was second losing week for Natural Gas future and in these 2 weeks we saw natural gas future tumbled from highs of 335 to low of 250 rupees means 25% correction. On weekly chart natural gas future have support zones around 239 and below it 201 rupee and prices are correcting towards them.
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