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Published by MtechTips
MTECHTIPS;-MCX Natural Gas: Close above 188 may take futures to 196

Natural Gas futures for March delivery on India's Multi Commodity Exchange (MCX) is exhibiting a significant up-trend.“If futures today close above 188 then it may move further up and touch 196 levels in coming sessions,” said Research Analyst at Commodity Online.“The commodity has resistance at 188 while 182 is the support. Intra-day traders advised to take long position around 185 with stop loss of 182 and wait for the target near 188 and 190,” he added. MCX natural gas futures for March delivery was up by 2.91 percent at Rs.183.70 per mmBtu as of 06.41 PM IST on Monday.Earlier, the natural gas contract opened on a positive note and traded up by almost 2% amid reports that US would see uncommonly cool temperature for this time of year over the next several weeks.In international market, concerns over ongoing cold weather and forecast to the same effect have caused the futures to go up significantly.On Thursday, U.S. Energy Information Administration said that natural gas storage fell by 127 billion cubic feet for the last week. Earlier, analysts expected a drop of 122 billion cubic feet which is also putting pressure on futures to the upside.


WWW.MTECHTIPS.COM
07489294118/119
MTECHTIPS;-MCX Natural Gas: Close above 188 may take futures to 196

Natural Gas futures for March delivery on India's Multi Commodity Exchange (MCX) is exhibiting a significant up-trend.“If futures today close above 188 then it may move further up and touch 196 levels in coming sessions,” said Research Analyst at Commodity Online.“The commodity has resistance at 188 while 182 is the support. Intra-day traders advised to take long position around 185 with stop loss of 182 and wait for the target near 188 and 190,” he added. MCX natural gas futures for March delivery was up by 2.91 percent at Rs.183.70 per mmBtu as of 06.41 PM IST on Monday.Earlier, the natural gas contract opened on a positive note and traded up by almost 2% amid reports that US would see uncommonly cool temperature for this time of year over the next several weeks.In international market, concerns over ongoing cold weather and forecast to the same effect have caused the futures to go up significantly.On Thursday, U.S. Energy Information Administration said that natural gas storage fell by 127 billion cubic feet for the last week. Earlier, analysts expected a drop of 122 billion cubic feet which is also putting pressure on futures to the upside.


WWW.MTECHTIPS.COM
07489294118/119

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Published by: MtechTips on Feb 25, 2013
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MTECHTIPS;-MCX Natural Gas: Close above 188 maytake futures to 196
 
Natural Gas futures for March delivery on India's Multi CommodityExchange (MCX) is exhibiting a significant up-
trend.“If futures today
close above 188 then it may move further up and touch 196 levels in
coming sessions,” said
Research Analyst at Commodit
y Online.“The
commodity has resistance at 188 while 182 is the support. Intra-daytraders advised to take long position around 185 with stop loss of 182
and wait for the target near 188 and 190,” he added.
MCX natural gasfutures for March delivery was up by 2.91 percent at Rs.183.70 permmBtu as of 06.41 PM IST on Monday.Earlier, the natural gas contractopened on a positive note and traded up by almost 2% amid reportsthat US would see uncommonly cool temperature for this time of yearover the next several weeks.In international market, concerns overongoing cold weather and forecast to the same effect have caused thefutures to go up significantly.On Thursday, U.S. Energy Information

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