NATURALGAS | MCX | breakout (July 31, 2024)
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.
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.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.