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Published on 21/05/2019 12:02:41 PM | Source: Reliance Securities Ltd

MACD has been moving in positive territory and showing buy signal - Reliance Securities

Posted in Commodities Reports| #Commodity Tips #Reliance Securities Ltd

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Natural Gas has been moving in sideways pattern post the up move. This is positive sign and suggests continuation pattern is in formation.

The above daily chart shows that prices have been intact in upward moving channel and 20 days of EMS has been providing support to the up move.

From last 3 days it has been protecting the low of prior bars which suggests bulls have the hold.

MACD has been moving in positive territory and showing buy signal.

In short, Natural Gas trend is positive with 180 as support and on upside it can move higher towards 195 levels

 

Strategy: MCX Natural Gas May Buy in the range of185-184 with 181 as stop loss and target of 190 levels

 

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