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MCX Natural Gas – Impulsive Wave Setup

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Free mcx natural gas chart calls

Free mcx natural gas chart calls

A new impulsive structure has emerged from the low of 265.5in natural gas. Price has accomplished wave (5) and started the zigzag correction at 801.

Currently, Natural gas is forming sub-wave 5 of impulsive wave C. Natural gas has also broken down 200EMA and the base channel of 2 – 4 wave, which signals bearish momentum. It has faced strong support of 515, but the price didn’t respect the level and ended up losing bullish momentum.

Wave C has traveled the same distance as wave A. Hence, Wave A = Wave C. If the price sustains below 516, traders can trade for the following targets: 486 – 462 – 440.

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5 Comments

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