NATURALGAS UPDATE | MCX | JUNE 12 - 13th

12 Jun 2024

Natural Gas - Long Trade Setup

Entry: Long above 261
Targets: T1: 265
T2: 267
T3: 270
Stop-Loss: 256 -257

News Highlights:

Hotter Summer Forecast: Above-normal temperatures in the US are expected to increase natural gas demand for cooling, boosting prices.

Increased Electricity Demand: Rising electricity output suggests higher natural gas consumption by utilities, providing further bullish support.

Lower Production & Ample Supply: While production is down, inventories remain high, potentially limiting excessive price surges.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Please consult with a licensed financial professional before making any trading decisions.