EquityPandit’s Outlook for Natural Gas for the week   (Jan 15, 2018 – Jan 19, 2018) :

NATURAL GAS:

NATURAL GAS closed the week on positive note gaining around 15.20%.

As we have mentioned last week, that minor resistance for the commodity lies in the zone of 181 to 184. Resistance for the commodity lies in the zone of 190 to 195 where Fibonacci levels and short, medium & long term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 202 to 205 where Fibonacci levels are lying. During the week the commodity manages to hit a high of 205 and close the week around the levels of 204.

Support for the commodity lies in the zone of 190 to 195 where Fibonacci levels and short, medium & long term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 175 to 180 where break out levels are lying.

Resistance for the commodity lies in the zone of 202 to 205 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 220 to 225 where long term Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 175 – 180 on downside & 220 – 225 on upside.