MTECHTIPS MCX NATURALGAS INTRADAY trading analysis 30-06-2016
MTECHTIPS MCX NATURALGAS INTRADAY trading analysis 30-06-2016
DAILY:- Mcx natural gas hit all my targets and made high at 201. For intraday watch 190-192 support zone for upside move. US natural gas prices have leapt 30 per cent this month as hot weather boost demand for air-conditioning and slowing supplies point to a gradually tightening.
WEEKLY :- Mcx natural gas future on Friday closed at 181.8 with gain. After correction up to 175 we saw buying on lower levels and once again natural gas resumed uptrend. On daily chart, mcx natural gas price trend and momentum both are bullish. Above 176 expect upside for natural gas prices. On upside 188 and 195 are resistance zones while on downside 180 and 176 are support zones. Above 176 short term outlook remain bullish for ng prices.
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