Naturalgas on MCX settled down -1.64% at 252 on profit booking amid due to short term weather forecasts. Data showed that natural gas supplies in storage in the U.S. fell much more than the five-year average for this time of year.  

Total natural gas in storage currently stands at 3.360 trillion cubic feet, according to the U.S. Energy Information Administration, almost 11.0% lower than levels at this time a year ago and 2.3% below the five-year average for this time of year. The amount of gas in storage fell below the weekly five-year average for the first time since May 2015. Meanwhile, updated weather forecasting models predicted that portions of the West and northern U.S. will be hit with rain, snow and slightly cool temperatures over the next few days.

                                          Technically market is under long liquidation as market has witnessed drop in open interest by -12.65% to settled at 6763 while prices down -4.2 rupee, now Naturalgas is getting support at 248.6 and below same could see a test of 245.2 level, And resistance is now likely to be seen at 257.9, a move above could see prices testing 263.8.