📆 #Naturalgas Update MCX || April 16
🔸Technical Analysis:
Support: 142
Resistance: 149.1
🔸Current Observation: Natural gas has found support at the 141.3 level.
Market News:
🔸European natural gas prices have surged to a 2024 high, driven by heightened tensions in the Middle East, supply disruptions, and forecasts of lower wind conditions.
🔸UK natural gas futures surged to a 2024 high of above 81 pence a therm, driven by geopolitical tensions, supply disruptions, and increased LNG imports from Asia.
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