EquityPandit’s Outlook for Natural Gas for the week   (June 11, 2018 – June 15, 2018) :

NATURAL GAS:

NATURAL GAS closed the week on negative note losing around 1.30%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 200 to 203 from where the commodity has sold off in the month of January-2018. If the commodity manages to close above these levels then the commodity can move to the levels of 210 to 215 where the gap is formed. During the week the commodity manages to hit a high of 201 and close the week around the levels of 196.

Support for the commodity lies in the zone of 187 to 190 where Fibonacci levels and short term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 180 to 183 where Fibonacci levels and break out levels are lying.

Resistance for the commodity lies in the zone of 200 to 203 from where the commodity has sold off in the month of January-2018. If the commodity manages to close above these levels then the commodity can move to the levels of 210 to 215 where the gap is formed.

Broad range for the commodity in the coming week can be seen between 180 – 185 on downside & 210 – 215 on upside.