MTECHTIPS MCX NATURALGAS INTRADAY trading analysis 16-06-2016
DAILY:- Mcx natural gas sustaining above 171 so keep long view and commodity traders can expect 178 and 182 as upside targets.
WEEKLY :- Mcx natural gas future this week closed with strong gains at 171.6. This was third gaining week for natgas prices. In these 3 weeks natural gas rallied from low of 132 to high of 176. Total 44 rupees or 30% plus gains for gas prices in very short term suggesting strong short covering as well as value buying from major participants. Mcx natural gas price weekly trend and momentum both are super bullish and expect higher targets of 186 to 195 in upcoming weeks. Mcx natural gas already achieved my targets of 163 and 171. Commodity traders can buy mcx natural gas with strict stop loss below 171 for targets 186 and 195 in upcoming weeks.
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