Natural Gas

As per our previous recommendation on Natural Gas June Futures (NYMEX: NGM22) as of April 27, 2022, we recommended a ‘Buy’ rating on the commodity at USD 7.00, and noted below are the details of the recommendation summary provided in our previous report:

Recommendation Summary as on April 27, 2022

NGM22 Daily Chart

Considering the target levels attainment, decent gains, high trading levels and risks associated, we are of the view that it is prudent to book profit at the current levels. Hence, we give a 'Sell' rating on the commodity at the current price of USD 8.456 (as of May 04, 2022, Chicago, IL, USA 08.08 AM GMT-5). 

Note 1: The reference data in this report has been partly sourced from REFINITIV.

Note 2: Exit decision should be made depending on the investors’ appetite on upside potential, risks, holding duration, and any previous holdings. 

Technical Indicators Defined: -

Support: A level where-in the commodity prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level where-in the commodity prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the commodity prices.