EquityPandit’s Outlook for Natural Gas for the week   (Oct 01, 2018 – Oct 05, 2018) :

NATURAL GAS:

NATURAL GAS closed the week on positive note gaining around 1.40%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 225 to 230 where the commodity has formed a high in the month of January-2018. If the commodity manages to close above these levels then the commodity can move to the levels of 235 to 240. During the week the commodity manages to hit a high of 226 and close the week around the levels of 218.

Support for the commodity lies in the zone of 208 to 210 from where the commodity broke out of July-2018 and August-2018 high. If the commodity manages to close below these levels then the commodity can drift to the levels of 200 to 203 where Fibonacci levels and short term moving averages are lying.

Resistance for the commodity lies in the zone of 225 to 230 where the commodity has formed a high in the month of January-2018 and September-2018. If the commodity manages to close above these levels then the commodity can move to the levels of 235 to 240.

Broad range for the commodity in the coming week can be seen between 200 – 205 on downside & 230 – 235 on upside.