First Commodity Trade in Natural Gas. Hey Folks,
I am looking at Natural Gas Future on MCX, with ongoing war affairs the demand of Crude and Natural gas has began increasing and today crude and Natural gas is filling with aggressive buyers.
several news coming in, are also indicating the price of these two commodities to see a good upward move if the war situations doesn't ease off.
With current state of US stand towards Iran ,and IRAN retaliation it is highly likely that over the weekend the war could escalate and we could see a major shift of these two commodities. and as Crude has already rushed by buyers today at a good scale, i am Looking Natural gas to be the next attraction for the buyers and sitting on Natural Gas position in options.
Natural Gas fut 24Mar 320 CE.
Technical Overview - The underlying has made a huge green candle with absolute dominating Volume on Daily frame, and if closes above the 20EMA - it will give more weightage to my analysis.
:) Thanks, Happy Trading.
Long