EquityPandit’s Outlook for Natural Gas for the week   (Mar 26, 2018 – Mar 28, 2018) :

NATURAL GAS:

NATURAL GAS 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 172 to 175. Support for the commodity lies in the zone of 164 to 168 where the commodity has formed a bottom in the month of December-2017. If the commodity manages to close below these levels then the commodity can drift to the levels of 148 to 150. During the week the commodity manages to hit a low of 168 and close the week around the levels 169.

Support for the commodity lies in the zone of 164 to 168 where the commodity has formed a bottom in the month of December-2017. If the commodity manages to close below these levels then the commodity can drift to the levels of 148 to 150.

Minor resistance for the commodity lies in the zone of 172 to 175. Resistance for the commodity lies in the zone of 180 to 185 where Fibonacci levels and short; medium & long term moving averages are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 200 to 205 where Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 150 – 155 on downside & 185 – 190 on upside.