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Nat Gas: Losses For Fourth Consecutive Week

Published 03/25/2014, 02:56 AM
Updated 05/14/2017, 06:45 AM

Gas Daily Chart

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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