India, Sept. 15 -- Technically Natural Gas market is under short covering as market has witnessed drop in open interest by 23. 27% to settled at 10457 while prices up 2.3 rupees.
Now MCX Natural Gas is getting support at and below same could see a test of 163.4 levels and resistance is now likely to be seen at 175.5 a move above could see prices testing 180.2.
Natural Gas yesterday settled up by 1.37% at 170.7 amid a continued increase in liquefied natural gas (LNG) exports and record sales to Mexico.
However upside seen limited on forecasts for cooler weather and lower air-conditioning demand over the next two weeks than previously expected.
Data provider Refinitiv projected demand in the Lower 48 U.S. states would rise from an average...