EquityPandit’s Outlook for Natural Gas for the week (February 13, 2017 – February 17, 2017) :

NATURAL GAS:

NATURAL GAS (204.10) closed the week with a negative note losing around 1.00%.

Minor support for the commodity lies in the zone of 200 to 202 where Fibonacci level is lying. Support for the commodity lies in the zone of 195 to 197 where 200 Daily SMA is lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 188 to 190 where Fibonacci level is lying.

Minor resistance for the commodity lies in the zone of 207 to 209. Resistance for the commodity lies in the zone of 213 to 215 from where the commodity broke down from the double bottom pattern and Fibonacci level is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 221 to 223 where Fibonacci level is lying.

Broad range for the commodity in the coming week can be seen between 195 – 197 on downside and 213 – 215 on upside.