MCX Natural Gas March: Buy around 187 levels with a stop loss placed below 185 levels for targets of 192 levels.
Thursday, 28 February 2013
Wednesday, 27 February 2013
Natural Gas eases off 5-week highs on frigid weather forecasts
Natural gas futures edged off 5-week highs on Tuesday after investors
finished pricing in colder-than-expected weather forecasts into their
trading strategies and then sold for profits.
On the New York Mercantile Exchange, natural gas futures for delivery in April traded at USD3.462 per million British thermal units, down 0.22%.
The commodity hit a session low of USD3.430 and a high of USD3.515.
A blast of cold air is set to grip the heavily populated central and eastern portions of the country, fueling talk late-season temperatures may come in colder than normal before warmer weather patterns return in the spring.
The U.S. National Weather Service predicted that cold weather will settle in over the U.S. for the next six-to-10-days, while weather service provider AccuWeather said it expected temperatures in the Northeast and Midwest to range from normal to below normal for the next 10 days.
Natural gas futures are very sensitive to weather reports in the U.S. winter.
The U.S. heating season, which runs from November through March, sees peak demand for gas.
About half of U.S. households use gas for heating purposes, according to Energy Department data.
Weather forecasts tend to wield less influence on prices once March arrives, though forecasts for a late-season chill pushed up prices significantly in recent sessions.
Elsewhere on the NYMEX, light sweet crude oil futures for delivery in April were down 0.754% and trading at USD92.41 a barrel, while heating oil for April delivery were down 2.40% and trading at USD3.0238 per gallon.
On the New York Mercantile Exchange, natural gas futures for delivery in April traded at USD3.462 per million British thermal units, down 0.22%.
The commodity hit a session low of USD3.430 and a high of USD3.515.
A blast of cold air is set to grip the heavily populated central and eastern portions of the country, fueling talk late-season temperatures may come in colder than normal before warmer weather patterns return in the spring.
The U.S. National Weather Service predicted that cold weather will settle in over the U.S. for the next six-to-10-days, while weather service provider AccuWeather said it expected temperatures in the Northeast and Midwest to range from normal to below normal for the next 10 days.
Natural gas futures are very sensitive to weather reports in the U.S. winter.
The U.S. heating season, which runs from November through March, sees peak demand for gas.
About half of U.S. households use gas for heating purposes, according to Energy Department data.
Weather forecasts tend to wield less influence on prices once March arrives, though forecasts for a late-season chill pushed up prices significantly in recent sessions.
Elsewhere on the NYMEX, light sweet crude oil futures for delivery in April were down 0.754% and trading at USD92.41 a barrel, while heating oil for April delivery were down 2.40% and trading at USD3.0238 per gallon.
Wednesday, 20 February 2013
NATURAL GAS NEWS
MCX Natural Gas February contract is looking positive the day. Market
may find support near 175 & 172 intraday resistance can be seen near
179 & 182. Day traders are advised to buy intraday on dips. (Buy
around 175 with SL 172 for the target of 179 & 182.)
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