Natural Gas - Resistance on Daily Chart, wait for a breakout for moving price higher
Natural Gas is facing stiff resistance near 2.5 dollars and price touched near that three times on daily chart but not crossed the level of 2.5. If we draw a trend line on the daily chart then we can clearly see that it is still under the downward trend line on the daily chart. We should wait for a breakout above 2.5 level, below that it may try to touch the lower uptrend line as can be seen on the daily chart of Natural Gas.Buy either on the breakout level or at the support near 2.35 with SL of below 2.3.
On MCX the upper resistance is 170.50 or 171 ... buy above that for target 180-185.
Or, Buy at the support of 160-158 level with SL 155.
Natural Gas Future Forecast For Next Week
Reviewed by Rajesh Kumar Gupta
on
Sunday, July 14, 2019
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