NATURAL GAS witnessing the sharp selling pressure where 25 SMA which is currently placed around 375 level - Swastika Investmart
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COMMODITY OUTLOOK
News in headlines:
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* Rising demand, tight supply still supporting oil
* Cyclone kills at least 10 in Madagascar, destroying homes and cutting power
Chart of the day:
NATURAL GAS: NATURAL GAS witnessing the sharp selling pressure where 25 SMA which is currently placed around 375 level but it starts to trade below this level then we can expect further weakness towards 200 DMA which is currently placed at 332. On the upside 370 will act as an immediate hurdle while 380 has become a critical supply zone.
Technical View:
* Bullion: Day trend is indicating sideways to upside in Gold & Silver.
* Energy: Day trend is indicating uptrend in Crude oil & downtrend in Natural gas.
* Base metals: Day trend in base metal is indicating to sideways to upside.
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