EquityPandit’s Outlook for Natural Gas for the week (March 27, 2017 – March 31, 2017) :

NATURAL GAS:

NATURAL GAS (200.30) closed the week on a positive note gaining around 3.60%.

As we have mentioned last week that minor resistance for the commodity lies in the zone of 195 to 197. Resistance for the commodity lies in the zone of 200 to 202 where 200 Daily SMA and Fibonacci level is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 210 to 212 where medium term moving averages and Fibonacci levels are lying. During the week the commodity manages to hit a high of 203 and close the week around the levels of 200.30.

Support for the commodity lies in the zone of 194 to 196 from where the commodity broke out after consolidation. If the commodity manages to close below these levels then the commodity can drift to the levels of 188 to 190 where Fibonacci level is lying.

Resistance for the commodity lies in the zone of 200 to 202 where 200 Daily SMA and Fibonacci level is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 210 to 212 where medium term moving averages and Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 190 – 192 on downside & 210 – 212 on upside.