EquityPandit’s Outlook for Natural Gas for the week   (Mar 12, 2018 – Mar 16, 2018) :

NATURAL GAS:

NATURAL GAS closed the week on positive note gaining around 4.10%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 176 to 178 where long term Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 185 to 190 where Fibonacci levels and short; medium & long term moving averages are lying. During the week the commodity manages to hit a high of 182 and close the week around the levels of 178.

Minor support for the commodity lies in the zone of 172 to 175. Support for the commodity lies in the zone of 164 to 168 where the commodity has formed a bottom in the month of December-2017. If the commodity manages to close below these levels then the commodity can drift to the levels of 148 to 150.

Minor resistance for the commodity lies in the zone of 180 to 182. Resistance for the commodity lies in the zone of 185 to 190 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 200 to 205 where Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 160 – 165 on downside & 195 – 200 on upside.