Commodity Mantra by SMC

Natural Gas is trading comfortably above its 50-day and 200-day EMAs, placed near ₹287.8 and ₹288.7, respectively, indicating improving bullish momentum. Immediate resistance is placed around ₹315–₹318, followed by the crucial ₹324 level. ₹324 remains a major hurdle: A sustained breakout above this level could open the door for further upside towards ₹330–₹340. On the downside, ₹300–₹295 is the immediate support zone, while ₹288–₹287 is a crucial EMA support area. ₹270 remains an important positional support; a decisive break below this level could weaken the recovery structure. 🌡️ Weather Trigger to Watch Colder weather forecasts across the Great Lakes and Northeast US are expected to increase heating demand, supporting Natural Gas prices. However, above-normal temperatures in the extended outlook could limit sustained demand. Market View: The overall bias remains positive as long as prices sustain above ₹287–₹288. A decisive breakout above ₹324 will be crucial for confirming the next leg of the rally. ⚠️ Weather forecast revisions and upcoming US Natural Gas inventory data will remain key triggers for volatility.

MCX Natural Gas is extending its recovery, gaining for the third consecutive session amid forecasts of colder weather across the eastern United States this weekend. Rising heating requirements are providing fresh support to prices.