Natural gas futures traded weak on October 21 as the request awaited Energy Information Administration (EIA) daily force report listed for release latterly in the day. Gas prices had jumped1.61 percent history on the NYMEX.

The energy commodity traded in the red since morning, tracking the muted overseas cues.
On the MCX, natural gas delivery for October slides Rs4.40, or1.13 percent to Rs 383 per mmBtu at 1430 hours with a business development of lots.

Gas delivery for November drooped Rs3.70, or0.90 percent, to Rs405.90 per mmBtu with a business volume of lots.
The value of October and November’s contracts traded so far is Rs612.11 crore and Rs198.40 crore, independently.

MCX Enrgdex declined by 2 points or0.03 percent at at2.32 pm. The indicator tracks the real- time performance of MCX Crude Oil and MCX Natural Gas futures.

“ Natural gas prices rose on Wednesday after bouncing off support and continuing their upward trend. Support can be plant near the 50- day moving normal which is located near$4.90. MCX Natural gas is trading near Rs 385, support sen at Rs 387-393 while resistance is at Rs 397-410,” said Kshitij Purohit, Product Director, Currency & Commodities, CapitalVia Global Research Limited.

Request actors now look forward to EIA daily force report listed for release latterly moment. Prospects are for a 91 billion boxy bases (Bcf) figure in stashes, according to check provider Estimize.

As per National Oceanic and Atmospheric Administration, the rainfall will remain warmer than normal for the coming two weeks across utmost of themid-West and East Coast. cast a mild downtime in its three-month temperature outlook also counted on the price.

Technicals

The commodity has been trading advanced than 50, 100, and 200- day simple and exponential moving pars but lower than the 5 and 20 days SMA and EMA on the diurnal map. The instigation index Relative Strength Indicator (RSI) is at46.78, which indicates a restrained trend in price.