MCX NATURAL GAS TIPS WEEKLY REPORT 25th April to 30th April 2011

Posted by Bhupendra Adhav on Monday, April 25, 2011

SCRIPT      R3         R2          R1           P             S1        S2          S3    

LEVELS    4.991  4.650      4.531    4.309      4.190     3.968    3.627   

Market Overview
Natural Gas is in a consolidation phase and traders should use the strategy of buying on lower levels. Last week Natural Gas was up for most part of the week. If next week Natural Gas sustains above the level of 4.150 $ then above the level of 4.430$ Natural Gas can test the level of 4.530 $ and below 4.060$ Natural Gas can slightly go down and test the level of 3.910 $. In MCX, if Natural Gas sustains above190 in the coming week then it can test the level of 204, if it does not break the level of 185 on the downside.

For the upcoming week 3.650$ and 3.200 $ will act as major supports and 4.880$ and 5.200$ will act as major resistance in US Natural Gas. For MCX Natural Gas major resistance would be 207 and 220, supports would be found at 165 and 150. 

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