EquityPandit’s Outlook for Natural Gas for the week   (Jan 07, 2019 – Jan 11, 2019) :

NATURAL GAS:

NATURAL GAS closed the week on negative note losing around 9.70%.

As we have mentioned last week, that support for the commodity lies in the zone of 220 to 225 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 205 to 210 where break out levels and Fibonacci levels are lying. During the week the commodity manages to hit a low of 202 and close the week around the levels of 212.

Support for the commodity lies in the zone of 205 to 210 where break out levels and Fibonacci levels are lying.. If the commodity manages to close below these levels then the commodity can drift to the levels of 180 to 185 where trend-line support and Fibonacci levels are lying.

Resistance for the commodity lies in the zone of 220 to 225 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 235 to 240 where Fibonacci levels and long term moving averages are lying

Broad range for the commodity in the coming week can be seen between 190 – 195 on downside & 230 – 235 on upside.