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DAY TRADING TIPS

Copper target met Buy Zinc at 199 for target of 201 , SL 198 Date - 14/03

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Natural gas futures rallied to 199 on MCX breaking the upside resistance. This was majorly due to the weather across US.

This suggest that it might become a buyers’ market for a while and if the EIA storage build is less than forecast than we can expect a rally till 205.

We saw strength last week due to weather concerns and this is expected to continue this week. Looking at weather forecast for this week and next we could see an increase in demand of NG.

Trades have been ignoring the EIA storage deficit, thinking that it could be factored later in October. Tables have turned now and it is expected that there could be increase in demand of the NG based on the current weather forecast.

Looking at fundamental and charts, it is expected that if NG breaks above 200 than we can expect and immediate rally till 205 and if not than we can expect seller to jump in and create short positions.

Natural gas
Natural gas production - Generatebucks.com

Looking at investors’ reaction today in the market, we can expect NG to continue upside momentum in coming sessions. We could see strength this week but this will all give a chance for hedgers to look at short positions at encouraging prices.

Intraday – Buy NG at 199 with target of 201-202 and SL of 197.


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