Weekly

Weekly Commodity Outlook


After weeks of negative trend, NG is trying to come out of the harsh phase as prices have found some support at lower levels. Importantly, the slight bounce back in prices has been well supported by volumes and a very small yet significant rise has also been seen in open interest. Momentum indicators like RSI, MACD & ADX are slowly turning up to match the trend in prices. These indicators have significance because they are aggressively coming out of the oversold zone and thus forming a very crucial positive divergence.

Tags: Technical


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