Natural gas is out from the supply zone. If it doesn't come down to the supply area, a solid uptrend is waiting ahead. We may see crude oil prices at 280 - 300 - 320+ in the upcoming months.
Intra Day Support (1) for 18/05/2021 226
Intra Day Support (2) for 18/05/2021 222.90
Intra Day Support (3)for 18/05/2021 222
Trading Range for 18/05/2021 is 232-217
Intra Day Resistance (1) for 17/05/2021 219
Intra Day Resistance (2) for 17/05/2021 217.70
Intra Day Resistance (3)for 17/05/2021 216.80
Trading Range for 17/05/2021 is 222-215
Intra Day Suppoet (1) for 13/05/2021 218.40
Intra Day Support (2) for 13/05/2021 218
Intra Day Support (3)for 13/05/2021 217.40
Trading Range for 14/05/2021 is 215-221
MCX Natural gas has made head and shoulders patterns on the weekly timeframe. And the two shoulders are overlapping. Sell confirmation is line breakout.
Recently, it has broken 200 moving average. If it shows closing price below the neckline and 200 MA consecutively, NG will fall nonstop.
X and Y are the formation's size. Here is the value of x 100 and y 74....
Natural gas started to make the head and shoulders pattern on the daily timeframe. First of all, let's understand some basics about the head and shoulders pattern. Here, it's a bearish head and shoulders pattern. In this pattern, the trend starts with the uptrend and makes the left shoulder, head, and the right shoulder. And after the completion of the right...
