MCX Natural Gas under short covering Support seen at 171.2
India, Dec. 6 -- Technically Natural Gas market is under short covering as market has witnessed drop in open interest by 12. 92% to settled at 20616 while prices up 3.3 rupees.Now MCX Natural Gas is getting support at 171.2 and below same could see a test of 167.9 levels and resistance is now likely to be seen at 176.9 a move above could see prices testing 179.3.Natural Gas on MCX settled up 1.93% at 174.6 after the latest weather forecasts confirmed that next week would be much colder than this week even though the outlook was for a little less cold in mid-December than previously expected.Prices rose despite the release of a federal report showing a smaller-than-usual weekly storage draw that was in line with estimates. The U.S. Energy In...
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