Monday, December 24, 2012

natural gas weakness below 180

here is a daily chart of natural gas which is a its strong support level 185-184.
As expected it take support on 180 on 14th december & bounced back to 193-194 level.
now it has again come to 184 level, as far as this level is intact, NG can move upto 189,193.
if it breaks this support on cloing basis (100 dma)  then it could fall upto 170.
buyers should initiate buying with 184-185 SL 179 & sell only below if 180 is broken  SL 185 targets 177, 173, 170