AHMEDABAD (Commodity Online): Natural Gas March contract moved down by 1.16% with breakout level of 210 on MCX during trading session today.
Natural Gas opened at 205.6 and made low of 202.7 during trading session. Total volume for the day is 9684 lots and open interest is around 13608 lots.
“Technically, supports for Natural Gas can be seen at 200 while resistance level is at 210,” said Hardik Shah, Sr. Research Analyst with Commodity Online.
Natural Gas prices have decreased from 254 to 202.7 in last 20 days due to forecasts of moderate temperatures in the U.S. Midwest and Northeast this month.
“Fundamentally Natural Gas is weak. One can sell Natural Gas at 205 with stop loss of 207 for target of 201,” said Shah.
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