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

NATURAL GAS:

NATURAL GAS (199.90) closed the week with a positive note gaining around 6.80%.

As we have mentioned last week that resistance for the commodity lies in the zone of 188 to 190 where Fibonacci level is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 197 to 199 where 200 Daily SMA is lying. During the week the commodity manages to hit a high of 202.20 and close the week around the levels of 199.90.

Minor support for the commodity lies in the zone of 195 to 197. Support for the commodity lies in the zone of 188 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 183 to 185 from where the commodity broke out after consolidation

Resistance for the commodity lies in the zone of 200 to 202 where 200 Daily SMA and Fibonacci level is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 210 to 212 where short & medium term moving averages and Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 188 – 190 on downside & 210 – 212 on upside.