March 28, 2011

Commodity MCX Report for Natural gas

The commodity contract of Natural Gas April future contract at MCX is traded above previous week’s high of 194.80. At MCX natural gas tested higher levels of 202.60 during the commodity trade week. It remained above 21 days exponential moving average which suggests buying sentiments for MCX and it may continue.

Commodity MCX Natural Gas April future contract opened at 196.50 per mmBtu. AT MCX and NCDEX it tested intraday high of 197.90 and last traded at 196.20. The contract faces resistance near 205 while its support is seen near 185.

The Commodity analyst advise Short term traders that they can buy MCX Natural Gas April contract near 192 with stop loss of 184 and can wait for target of 203.
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