Natural gas prices was trading in the range between 169 – 180 levels for last three weeks
and last week it has given a breakdown below 169 and closed at 166.5 levels, trend for the
commodity remains bearish and we expect prices to test 160 levels immediately with strong
resistance above 172.5 levels. Sell at current levels and on rises up to 168 with stops
above 172.5 for the said targets.
Weekly Call :
Sell Mcx Natural gas on rises between 166.5 – 168
with stops above 172.5
for target 160.
Any breakdown and close below 160 may pull down the prices to 155 and 152 levels.