EquityPandit’s Outlook for Natural Gas for the week   (Sep 10, 2018 – Sep 14, 2018) :

NATURAL GAS:

NATURAL GAS closed the week on negative note losing around 3.00%.

As we have mentioned last week, that minor support for the commodity lies in the zone of 200 to 202. Support for the commodity lies in the zone of 190 to 194 where medium and long term moving averages and Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 178 to 182 where Fibonacci levels are lying. During the week the commodity manages to hit a low of 199 and close the week around the levels of 201.

Minor support for the commodity lies in the zone of 198 to 200. Support for the commodity lies in the zone of 193 to 195 where Fibonacci levels and long term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 186 to 189 where low for the month of July-2018 and August-2018 is lying.

Minor resistance for the commodity lies in the zone of 203 to 205. Resistance for the commodity lies in the zone of 208 to 210 where high for the month of June-2018 and August-2018 are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 225 to 230 where the commodity has formed a high in the month of January-2018.

Broad range for the commodity in the coming week can be seen between 185 – 190 on downside & 215 – 220 on upside.