India, Sept. 24 -- Technically Natural Gas market is under short covering as market has witnessed drop in open interest by 55. 99% to settled at 3874 while prices up 19.8 rupees.
Now MCX Natural Gas is getting support at 139.7 and below same could see a test of 125.1 levels and resistance is now likely to be seen at 162.8 a move above could see prices testing 171.3.
Natural Gas yesterday settled up by 14.73% at 154.2 as output continues to slide demand edges up and liquefied natural gas (LNG) exports increase.
Data provider Refinitiv said output in the Lower 48 U.S. states was on track to fall to 83.8 billion cubic feet per day (bcfd) on Wednesday its lowest since August 2018 as low prices earlier this year prompted energy firms to cut b...