MCX Nat Gas: Symmetrical Triangle and ElliottWave forecast

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MCX Nat Gas weekly chart


MCX Natural Gas is set to plunge near till 125-120 levels as cluster of supports are placed at this level. It is also to be seen that a classical triangle pattern is formed within which prices are moving. 

As per wave theory, prices are moving in a corrective pattern in which last leg is triangle. In triangle prices are moving in last leg which is wave E. This can tumble prices near till 125-120 levels. Once it is over, prices are likely to reverse.

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Comments

Phani Kumar said…
Hey, thanks for the information. your posts are informative and useful. I am regularly following your posts.

Investec
Jefferies
Motilal Oswal
Morgan Stanley
Kotak Equities
19 July 2020 at 15:00
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