Natural Gas Futures
Panjang

NATURALGAS | MCX | breakout (July 31, 2024)

193
Natural Gas Analysis

Natural gas experienced a short-term rally due to unexpected hot weather forecasts, pushing prices into a supply zone. However, the market remains cautious due to persistent high inventory levels and rising production.

Key Levels: Resistance: 180
Targets:
1st: 182.5
2nd: 185

Support: 177.5
Stop-Loss: Minimum 10 points below entry (adjust based on risk tolerance)

A sustained move above 180 could indicate a stronger bullish trend. Conversely, a breakdown below 177.5

Disclaimer: This information is for educational purposes only and should not be considered financial advice.

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