MCX Natural Gas Likely to Trade on Higher levels

MCX Natural Gas Jan contract yesterday traded with the positive but it has made a low of 197 and finally settled at 202.4 up by 2.90 rupees on Tuesday as buying seen in it


For today's MCX Natural Gas Jan contract is looking to take support at 200.8, a break below could see a test of 198.5 and where as resistance is now likely to be seen at 206.7, a move above could see prices testing 210.10.


Technically,Intraday Traders can buy MCX Natural Gas Jan contract near 201 with the stop loss of 198.5 and can wait for the targets of 206 and 210.1 while positional traders can buy MCX Natural Gas Jan contract near 202 with the stop loss of 198 and can wait for the targets of 210 and 219

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MCX Alert: Natural Gas Likely to remain Range Bound

Natural gas MCX Jan contract settled at 202.3 per MMBTU on Thursday against previous close of 205 down by 2.7 rupees. Natural gas MCX Jan contract opened down at 201 made an intraday high at 202.9 and last traded at 201.8 down by just 0.5 rupee after made an intraday low of 199.2. Natural gas prices are likely to remain range bound for the next few days and may trade in a range of 190-210.

Technically, Natural gas look sideway and range of Natural gas is from 185-215. Support for the Natural gas is seen at 197 and below it could touch 187. While resistance levels are 205 and 213.


As per EIA report, Natural gas inventory levels reached to 3097 billion cubic feet (bcf) for the week ended on 31st December, 2010 decreased by 135 bcf which look supportive for the Natural gas future prices. Positional traders are advised to buy on dips.


Intraday traders can sell MCX Natural Gas Jan contract near 205 keeping a stop loss of 209 and can wait for the targets of 200-198.

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