Thursday, July 2, 2009

Natural Gas Technical Analysis 2nd July 2009

Natural Gas After Breaking down , Re tested the Breakdown trendline , Look at the yellow trendline , it Indicates that the short term bearish view continues , but Same time at lows a Hammer has been Formed , So would Recommed Clients to go Long again abv the Trendline and Consider the break Down As whipsaw & same time if breaks the Low than its a Confirmed breakdown with volumes also Supporting same

MCx traders who are Long maintain 179 as SL and those who are short maintain 186 Trailling SL

Personally i am On bearish view and would prefer to Remian Short below 186 . A Close above Same would get the Commodity in netural Zone and close abv 194 would Reopen bullish Scene..