#Naturalgas important levelsMCX:NATURALGAS1!
This chart shows an analysis of Natural Gas Futures and gives us an idea of
where the price might go next:
1. Resistance Zones: There are areas around 283 and 287.5 where the price
struggled to go higher in the past. These are levels where sellers might
come in again.
2. Support Zones: The price has strong support at 271 and 267.4, which are
areas where buyers stepped in before to stop the price from falling
further.
3. Downward Trendline: The price is generally moving downward, shown by
the slanted line. If it can break above this line, it might signal the start of
an upward move.
4. Two Possible Scenarios:
Upward Move: If the price goes above the resistance and breaks the
trendline, it might head toward 287.5.
• Downward Move: If the price doesn't hold above support, it might
drop back to 267.4 or low
In simple terms, traders are waiting to see jf the price breaks above the
resistance (good for buyers) or falls below support (good for sellers) to decide
the next move.
