AHMEDABAD (Commodity Online): Natural gas MCX Dec contract settled at 185.1 per MMBTU on Thursday against previous close of 192.9 down by 7.8 rupees. Natural gas MCX Dec contract opened down at 184.1 made an intraday high of 184.1 and last traded at 183.4 down by 1.7 rupees after made an intraday low of 180.3
Natural gas prices are likely to fall from the present levels and could test 179-174 levels within next few trading days.
Technically, Natural gas look sideway to bearish and range of Natural gas is from 175-205. Support for the Natural gas is seen at 179 and below it could touch 170. While resistance levels are 190 and 200.
Short term traders can sell MCX Natural Gas Dec contract near 187 keeping a stop loss of 191 and can wait for the targets of 181-176.
To get in touch with the Analyst on this report, please mail to tips@commodityonline.com
