Natural gas Updates- Natural gas Moving Up

Natural gas MCX June contract opened flat at 216.7 per MMBTU vs. previous close of 216.7 made an intraday low at 213.7 and last traded at 215.7 down by one rupee after it made an intraday high of 217.6.

Natural gas future prices have risen by approximately 13 percent in last three trading weeks. Natural gas future prices are trading in a range of 165-220 from last few months. Natural gas future prices are likely to rise further on speculative buying and may touch 222-228 levels in near future.

Natural gas future prices face a resistance near 222 and 232. While its support levels are seen at 206 and 194.



Technically, range for Natural gas is from 165-235. 14 days RSI for MCX Natural gas June contract is at 66 levels which show that natural gas prices are trading sideways.