Natural Gas (Jan 12 - MCX) ST: below its lower Bollinger band
Our pivot point is at 151.1.
Our preference: short term rebound towards 181.6.
Alternative scenario: the downside breakout of 151.1 would call for 142.7 and 137.7.
Comment: the RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. The price is trading under both its 20 and 50 day MA (respectively at 164.89 and 173.99). Finally, the Natural Gas (Jan 12 - MCX) has penetrated its lower Bollinger band (158.26). Natural Gas (Jan 12 - MCX) is currently trading near its 52 week low at 157.6 reached on 03/01/12.
Supports and resistances:
186.9 *
181.6 **
176.3
158.1 last
154.4
151.1 **
142.7 *
Our pivot point is at 151.1.
Our preference: short term rebound towards 181.6.
Alternative scenario: the downside breakout of 151.1 would call for 142.7 and 137.7.
Comment: the RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. The price is trading under both its 20 and 50 day MA (respectively at 164.89 and 173.99). Finally, the Natural Gas (Jan 12 - MCX) has penetrated its lower Bollinger band (158.26). Natural Gas (Jan 12 - MCX) is currently trading near its 52 week low at 157.6 reached on 03/01/12.
Supports and resistances:
186.9 *
181.6 **
176.3
158.1 last
154.4
151.1 **
142.7 *
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