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Naturalgas on MCX settled up 3.23% at 143.8 as investors looked past the large glut of the fuel to focus on expectations of falling production. An explosion and fire on a major Spectra Energy Corp.
U.S. natural gas consumption and production has increased, with production growing fast enough to reduce the need to import. Technically now Naturalgas is getting support at 138.1 and below same could see a test of 132.3 level, And resistance is now likely to be seen at 148.1, a move above could see prices testing 152.3.We are provide commodity market tips and two day free trail to content this no 9827808090 and miss call.
Trading Ideas
Naturalgas trading range for the day is 132.3-152.3.
Natural gas prices as investors looked past the large glut of the fuel to focus on expectations of falling production.
U.S. natural gas net imports fell to 2.6 billion cubic feet per day, their lowest level since 1986, according to data released by EIA.
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