Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

Natural Gas Technical Outlook – Reversal Ahead ?

35 sec read

Natural gas (24.02.14) respected our last 3 articles & almost doubled in price. Hope you all enjoyed.

Now natural gas is trading around $6.37 & as we can see on charts , this area is just below the 61.8% feb correction level of the last downside wave. As the last downside move was very ideal technical move & in respect to that current bounce should be very ideal. At the same time we witness a very strong negative divergence on RSI , pointing for a quick downside move. 3 major gap on charts , too indicate for a reversal or profit booking.

Visit here for MCX Natural Gas 5min charts with Algorithmic Trading Signals.

On fundamental side, inventory still on lowest level since 2004 but upcoming reactivation of production rings & mix weather forecast may reduce the of natural gas as heating option.

 

ng

Based on above studies, we will prefer to take a short position on natural gas for possible targets around $6.25 & then $5.730. A day close above $6.45 will delay the projection.

Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

Silver Momentum Pullback Trade Setup

After a significant momentum in Silver 11.77 to 29.85 silver started correcting in the month of Sep 2020 towards 21.66. Last week silver plunged...
Rajandran R
22 sec read

Is the Oil nearing the Bottom?

I woke up in the morning just to see the headlines "Oil Drops to 21-Year Low With Storage Filling as Demand Shrivels". Ever-since ...
Rajandran R
53 sec read

Gold-Oil Ratio at the Historical High

Now with One ounce of Gold one can buy 83 barrels of Crude Oil. Gold-Oil Ratio is at the historical peak as the FED...
Rajandran R
37 sec read

4 Replies to “Natural Gas Technical Outlook – Reversal Ahead ?”

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More