April 05, 2011

MCX Natural Gas Contract Report 05 April

The MCX April contract for natural gas has opened down this morning at a commodity price of 193.9 per MMBTU vs. previous close of 194.8 made the same level as an intraday high and last traded at 190.7 down by 4.1 rupees price. The said contract has made an intraday low at 189.5.
The commodity Natural gas price for futures are declining steadily from last few days and likely to fall further because of ample supply and could test 183-177 levels within next few trading days. The positional traders are advised to sell on rise.

The commodity range for Natural gas is from 175-205. 14 days RSI for MCX Natural gas Apr contract is at 47 levels and it shows that natural gas prices are falling steadily and may fall further.

For commodity positional traders:
Sell MCX Natural Gas Apr near 195,  SL of 203, TT is 185-180.
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