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Natural Gas Important Levels to watch !

MCX:NATURALGAS1!   Natural Gas Futures
Natural Gas important levels to watch are as follows

#Support: 244

Sell below: 244 only on 15 minute candle closure below the level.
Target 1: 242
Target 2: 239



#Resistance: 247

Buy Above: 247 only on 15 minute candle closure Above the level.
Target 1: 249
Target 2: 252



=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.

=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.



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#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
Comment:

target 1 hit !!
Comment:


LOW made 239.6, very close to our target level 2 !!

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Comment:

Natural gas second target successfully achieved !!

stay tuned for further price action !!
Comment:


Natural gas prices bounced back after hitting our both targets on the downside.

Currently, prices again facing resistance exactly at the marked level of resistance forming a supply zone.

The chances of price rejection from the supply zone are high. However, if price managed to break the supply zone then we may witness further upside rally towards the marked target levels.
Comment:


head and shoulders can be seen on 15 min timeframe,

we may witness further downfall if 15 min candle closes below the neckline.
Comment:
do not forget to use SL as per your own risk appetite.
Comment:


natural gas broke the supply zone marked in red on the chartand achieved target 1 on upside
Trade closed: target reached:
All the targets achieved successfully just as planned.

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Disclaimer: All the Views are purely for educational purpose.