MTECHTIPS MCX NATURALGAS INTRADAY trading analysis 27-06-2016

MTECHTIPS MCX NATURALGAS INTRADAY trading analysis 27-06-2016
DAILY:- Mcx natural gas weekly chart showing positive closing for week. This was fifth gaining week for ng future. In these 5 weeks’ time frame we saw low of 131 and high of 188. Trend and momentum both are super bullish here and next major move will happen above 188. On downside 170 and 160 are strong support levels.
WEEKLY :- Mcx natural gas future on Friday closed at 181.8 with gain. After correction up to 175 we saw buying on lower levels and once again natural gas resumed uptrend. On daily chart, mcx natural gas price trend and momentum both are bullish. Above 176 expect upside for natural gas prices. On upside 188 and 195 are resistance zones while on downside 180 and 176 are support zones. Above 176 short term outlook remain bullish for ng prices.


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