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NATURALGAS1! trade ideas

Does Natural gas Will Break Resistance ? $MCX:NATURALGAS1! MCX:NATURALGAS1! As Per Technical Analysis and Charting Looks Like Natural Gas will Face Strong resistance Near 221-223 Level if its break then another resistance Will be 237-240 and if its break with Volume then we can see 260,280,300 level in Near Term. Current support Level is 205-202 if its break then we can see 190,180 level but currently its looks difficult to break. This analysis is only For Educational Purpose. MCX:NATURALGAS1!
MCX:NATURALGAS1!Long
by PrachiMetha
15
Natural Gas Price Analysis: Waiting for Confirmation Above 240Based on the analysis of the natural gas inventory data and other indicators: Inventory Data: The actual inventory is less than the forecasted, indicating that the supply is less, and the demand for natural gas is high. Price Action : The price action appears to be bullish. Price Level : However, to confirm the bullish trend, natural gas needs to cross above 240. RSI : The Relative Strength Index (RSI) is below 50, indicating that it is not in the overbought zone and suggesting a potential for further upward movement. EMA Crossing : The Exponential Moving Average (EMA) crossing (9,21) is showing a sell signal, which might be a potential bearish sign. Considering all these factors, it would be better to wait until the price of natural gas crosses above 240.5 and sustains above that level to confirm the bullish trend and potentially consider a long position. Traders should monitor the market closely for a clear confirmation before making any trading decisions.
MCX:NATURALGAS1!Long
by TradingCraftsman
Base metalsBase Metal Technical Report, 30/06/2023 : BEST COMMODITY 30 Jun 10:17 BEST COMMODITY Technical Outlook The daily technical chart for Copper futures is forming a "Megaphone Pattern", where copper is facing heat, and in the last session it shredded 0.75%, where it closed at 704.95, it giving expectation of bearish movement if 700 is breached, which is the strong support for the commodity, where it is broken we may see 690 levels, and in the last session, it touched a high of 706.90, hence we may see a range of 700-710 in the upcoming session, meanwhile, for the current session the resistance is at 709 and key support is at 698. Research Report Call Buy if able to sustain above 707 targets 710-711, keeping an SL of 705. sell if it breaks 702, for targets 700-698, keeping an SL of 703. Technical Outlook Zinc Futures in the last session was flat and closed at 211.20, where it has been correcting from the last couple of sessions, in the range of 207-213, where it is taking support at 210, and zinc is technically forming a "Falling Wedge", where the contracting demands are hindering the gains, and it in the last session gave a range of 211.85-210.25, where it might try to move in the range of 210-213 levels in the upcoming sessions, for the current session zinc's key resistance, is placed at 213.55 and key support is placed at 208.50. Research Report Call Sell if it breaks 210 below, then sell for targets 209-207 keeping an SL of 211.20, and buy if it sustains above 212 for targets 213-215 keeping a trail SL of 211. As Reported By BEST COMMODITY
MCX:NATURALGAS1!
by Shubh181995