MCX NATURAL GAS WEEKLY REPORT 25th Oct to 30th Oct

Posted by Bhupendra Adhav on Saturday, October 23, 2010


Technical Analysis NATURAL GAS

Weekly Chart

Weekly Pivots

SCRIPT     R4         R3         R2          R1         P             S1        S2          S3         S4
NG          4.381    4.058     3.735    3.533    3.412     3.210    3.089    2.766    2.443  


Market Overview

Natural Gas is in a downward phase and traders should use the strategy of selling on higher levels. Last week Natural Gas break the important level of 3.500$ and sustained below it. If next week Natural Gas sustains below the level of 3.220$ then below the level of 3.150$ Natural Gas can test the level of 3.020$ and above 3.900$ Natural Gas can slightly go up and test the level of 4.050$. In MCX, if Natural Gas sustains below 150 in the coming week then it can test the level of 143 if it does not break the level of 168 on the upside.

Strategy

For the upcoming week 3.450$ and 3.150$ will act as major supports and 3.900$ and 4.150$ will act as major resistance in US Natural Gas. For MCX Natural Gas major resistance would be 175 and 191 and supports would be found at 152 and 143.

MCX Tips for Today

Here we daily post MCX Tips for Today for Bullion Commodity Gold Silver, Energy Crude Oil and Natural Gas and Base Metals - Copper, Zinc, Aluminum, Lead and Nickel Tips trend and trading levels for today.
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