EquityPandit’s Outlook for Natural Gas for the week (March 20, 2017 – March 24, 2017) :

NATURAL GAS:

NATURAL GAS (193.30) closed the week on a negative note losing around 3.30%.

As we have mentioned last week that 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. During the week the commodity manages to hit a low of 189 and close the week around the levels of 193.

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.

Minor resistance for the commodity lies in the zone of 195 to 197. 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 medium term moving averages and Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 180 – 182 on downside & 200 – 202 on upside.