Natural Gas Weekly Outlook - MCX Natural Gas July as seen in the weekly chart above has opened the week at 180.50 levels and made a low of 177.10 levels. But could not sustain at lower levels prices rallied sharply higher towards the weekly high of 192.50 levels. This week prices closed below the previous week’s closing of 180.30 levels and finally closed 1.05% higher at 182.20 levels. Technically, as per the candlestick pattern prices have formed “Bullish candlestick” indicating upside moves.
Mcx Natural Gas Support :
For the next week we expect Natural Gas prices to find support in the range of 176 – 177 levels. Trading consistently below 176 levels would lead towards the strong support at 170 levels and then finally towards the major support at 165 levels.
Mcx Natural Gas Resistance :
Resistance is now observed in the range of 187 – 188 levels. Trading consistently above 188levels would lead towards the strong resistance at 193 levels, and then finally towards the major resistance at 199 levels.