EquityPandit’s Outlook for Natural Gas for the week  (June 26, 2017 – June 30, 2017) :

NATURAL GAS:

NATURAL GAS (189) closed the week on negative note losing around 3.50%.

As we have mentioned last week that minor support for the commodity lies in the zone of 193 to 194. Support for the commodity lies in the zone of 189 to 190 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 185 to 186 where long term Fibonacci levels are lying. Below these levels the commodity can drift to the levels of 178 to 180. During the week the commodity manages to hit a low of 184 and close the week around the levels of 189.

Support for the commodity lies in the zone of 185 to 186 where long term Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 178 to 180.

Minor resistance for the commodity lies in the zone of 191 to 193. Resistance for the commodity lies in the zone of 200 to 202 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can move to the levels of 205 to 207 where 200 Daily moving averages are lying.

Broad range for the commodity in the coming week can be seen between 178 – 180 on downside & 200 – 202 on upside.