Shalvisharma5

๐Ÿ“† #Naturalgas Update MCX || April 16

Long
MCX:NATURALGAS1!   Natural Gas Futures

๐Ÿ”ธTechnical Analysis:
Support: 142
Resistance: 149.1

๐Ÿ”ธCurrent Observation: Natural gas has found support at the 141.3 level.
Market News:

๐Ÿ”ธEuropean 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.

๐Ÿ”ธUK 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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.