After successfully hitting the target on MCX Natural Gas, I am looking for a buying opportunity. You can see the previous post in which prediction and analysis on Natural gas performed very well.
Read the previous post on Natural Gas here
Now after reaching targets of 201-200 range, I am expecting a consolidation range for 1-2 days and after that, perhaps a buy signal may come on Friday(20-Nov.-2020).
Traders who have enough funds may start accumulation in next month's contract i.e. in December month contract from 210.80 levels with a stop-loss of 195. We are expecting a bounce back from the 210-205 range in the December month contract. But a conservative trader with not sufficient funds to hold the position with deep stop-loss should wait for a clear direction.
In the below chart on the basis of technical analysis and indicators, I have tried to find the buying opportunity levels. Hope this time my prediction with analysis may go well also.
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Disclaimer: The author of this post does not have any position in Natural Gas futures. Readers are advised to take any position at their own risk; as Natural Gas is a highly volatile and most liquid commodity. Any loss/profit made on the basis of the above analysis will be unclaimed.
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