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.
