Nymex Natgas: 'Hanging Man' Signals Bearish Reversal, Doji In MCX

Published 01/03/2013, 06:20 AM
Updated 05/14/2017, 06:45 AM
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Nymex Natural Gas has been trading in a narrow range in December, however, what is quite surprising is the appearance of the "Hanging Man" in the chart below which could give a further blow for the commodity as it is indicative of a bearish reversal. How much lower natural gas prices can go from here is anyone's guess?
Natgas_Hanging_Man
In MCX Natural gas charts below, a sideways trend has been further compounded by the arrival of a "doji" pattern suggesting indecisiveness in the market. Support levels are now at Rs 182-180 while resistance is seen at 192-194.
MCX_Natgas_doji
By Sreekumar Raghavan

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