EquityPandit’s Outlook for Natural Gas for the week  (Dec 26, 2017 – Dec 29, 2017) :

NATURAL GAS:

NATURAL GAS closed the week on positive note gaining around 2.10%.

As we have mentioned last week, that minor resistance for the commodity lies in the zone of 170 to 172. Resistance for the commodity lies in the zone of 176 to 180 from where the commodity has broken down. If the commodity manages to close above these levels then the commodity can move to the levels of 190 to 195 where Fibonacci levels and short, medium & long term moving averages are lying. During the week the commodity manages to hit a high of 181 and close the week around the levels of 170.

Support for the commodity lies in the zone of 165 to 167 from where the commodity has broken out on monthly basis. If the commodity manages to close below these levels then the commodity can witness a major break down and commodity can drift to the levels of 150 to 153.

Minor resistance for the commodity lies in the zone of 170 to 172. Resistance for the commodity lies in the zone of 176 to 180 from where the commodity has broken down. If the commodity manages to close above these levels then the commodity can move to the levels of 190 to 195 where Fibonacci levels and short, medium & long term moving averages are lying.

Broad range for the commodity in the coming week can be seen between 155 – 160 on downside & 185 – 190 on upside.