EquityPandit’s Outlook for Natural Gas for the week   (Apr 09, 2018 – Apr 13, 2018) :

NATURAL GAS:

NATURAL GAS closed the week on negative note losing around 2.00%.

As we have mentioned last week, that 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. During the week the commodity manages to hit a low of 173 and close the week around the levels of 176.

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.

Resistance for the commodity lies in the zone of 180 to 185 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 & 190 – 195 on upside.