Nat Gas: Losses For Fourth Consecutive Week
CommodityOnline | Mar 25, 2014 02:56AM ET
Natural Gas prices on the MCX witnessed fourth consecutive weekly loss, as prices went to its lowest levels seen since mid January this year. Daily technical also showed RSI Indicator trading near to 35 indicating prices approaching oversold levels on daily charts. However, going ahead for next week, prices are expected to trade with negative bias as strong supports for the counter can be expected at Rs. 258 - 252.10 per mmbtu on MCX. On the upsidestrong resistance for the counter could be expected at Rs. 278.90-294.50 per mmbtu on MCX.
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