EquityPandit’s Outlook for Natural Gas for the week (Mar 18, 2019 – Mar 22, 2019) :
Technically on the daily charts we see minor support on the downside for Natural Gas Mcx Future lies in zone of 185- 183 levels, where as minor resistance on the upside is capped around 205- 206 levels.
If Natural Gas Mcx Future breaches minor support on the downside and closes below it we may see fresh break down and Natural Gas Mcx Future can head towards major support on lower side around 177- 175 and if breaches minor resistance on the upside and closes above it we may see fresh breakout and Natural Gas Mcx Future can head towards higher levels around 217- 220
Currently Natural Gas Mcx Future is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 217- 220 on upside and 177- 175 on downside.