Natural Gas after Reversing From the short term bottom of 3.255 has been trending in A larger traingle as Indicated in graph, Currently trading at 3.783 Which Is almost Near the lower End of triangle ,
Looking From the onther angel view its been Sideways in a channel for past two week who's Support is also nearby at 3.750 Levels . Natural gas gives lot of whipsaws So as to trade the pattern being on Safe side . If NG breaks 3.715 Level as Indicated it open Downward trgts of 3.570 Which is good 8-10 % down , Looking on the upside it has Strong Resistance at 3.950 & 4.14 Levels a Move past that would Indciate the Recent down Fall has halted From 4.375 and the trend turns to be Netural still traidng inside larger triangle and one has to wait to see which side it gives a fresh breakout
Note : We have a open Reco Postional NG short at 186 MCX price With Sl at 194
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