SCRIPT R3 R2 R1 P S1 S2 S3
LEVELS 4.840 4.490 4.265 4.140 3.915 3.790 3.440
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 down for most part of the week. If next week Natural Gas sustains above the level of 3.900 $ then above the level of 4.080$ Natural Gas can test the level of 4.180 $ and below 3.900$ Natural Gas can slightly go up and test the level of 3.810 $. In MCX, if Natural Gas sustains above180 in the coming week then it can test the level of 187, if it does not break the level of 172 on the downside.
Strategy
For the upcoming week 3.650$ 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.
