NATURAL GAS

Natural gas daily chart has formed “Ascending broadening wedge” pattern. The last few sessions seems consolidated near the channel’s resistance level. The market is expected to open in gap down momentum as the contract changed from last session. Long-term Support holds at 195, if the market opens near the same then it might retest the level and turn bullish. The upside rally could test 200-204- 208 levels in upcoming sessions. Alternatively, if the market breaks below the support level then it might continue in bearish. The downside rally could test 192-188. Near Resistance holds at 208.

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