Naturalgas on MCX settled down -5.17% at 212.70 sank once again gripping into a bear zone hitting a one-month low because of winter weather forecasts that keep getting progressively warmer. Natural gas was the second-best performer across commodities in 2016. While now it’s experiencing a rollercoaster ride in 2017. Prices are down 21% since Dec. 28, retreating sharply from a two-year high they had hit that day.

They show a sharp cold spell abruptly ending this week and instead giving way to extremely warm temperatures over half the country and often more into late January. While weather reports Monday show extremely above-normal temperatures for just about everything east of the Mississippi River until Jan. 23.

Now technically market is under fresh selling as market has witnessed gain in open interest by 39.63% to settled at 6958 while prices down -11.6 rupee, now Naturalgas is getting support at 208.5 and below same could see a test of 204.3 level, And resistance is now likely to be seen at 220.5, a move above could see prices testing 228.3.