From last fifteen days MCX Natural gas is in uptrend as shown in the below price chart . we were finding key resistance as shown in the price chart.There is a bearish price action signal in natural gas created on the 10 th November . The trade might go bearish if the low of 10th november breaks since it is on the resistance level. Daily
Price action Natural gas forecast or signal as shown in daily price chart
Today i am going to trade intraday in following MCX commodities
Natural Gas – Sell @266.60
Copper – Sell @411.15
Gold Mini – Sell @ 25669
Silver Mini – Sell @ 34564
Crude Oil – Sell @ 4764
Alumini – Sell @ 125.70
Lead Mini – Buy @ 126.40 and Sell @ 124.55
Zinc Mini – Sell @ 137.60
Nickel – Sell @ 931.40
Also i am going to trade intraday in NIFTY Future
Nifty – Buy @ 8420 and Sell @ 8324
Banknifty – Buy @ 17546 and Sell @ 17290
Daily Price chart of MCX Natural Gas on 11 th November is as shown below
As I dicussed in my yesterdays Natural Gas forecast we got expected results. We expected selling from the key resistance our selling point of Natural Gas was 266.00 and I booked the profit of 10 points as it moved low of 255.00. As per price action we can continue this trade one or two days until we get another buying signal.
Today i traded intraday in commodity , and Nifty, My todays intraday trading results of i e of 11 th november is as shown below
Nifty – Not executed , since my price action point did not came
Banknifty – Not executed , since my price action point did not came
Gold Mini – Gap down I missed the trade
Natural gas – Gap down , But due to strong Price action sell signal I was in a short position I acheived + 5 Points
Alumini – I achieved + 0.80 Points
Crude Oil – I achieved + 30 points
Copper – I achieved + 4 points
Nickel – Stop Loss Triggered of -5 Points
Zinc mini – Stop Loss Triggered of – 0.80 Points
Lead mini – Stop Loss Triggered of – 0.80 Points
Silver Mini – I achieved + 100 points in the evening Trade on resistance
Crude oil evening trade – I achieved +40 on the same sell @4764
Overall intraday summary Total Targets achieved in Six commodities and Stop Loss Triggered in three commodities. Good Score. I am Happy.
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Happy Trading