Gold Silver Reports – Natural Gas MCX settled up 1.06% at 172.40 on aggressive short-covering and speculative buying as support seen after a week-end cold blast over key U.S. demand areas is helping to drive natural gas prices sharply higher.
Natural Gas
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China Exceeds Target for Household Gas Projects
Gold Silver Reports – China’s Ministry for Environmental Protection (MEP) said it had completed coal-to-gas and coal-to-electricity projects for 3.9 million households or 25,220 villages, exceeding a target of 3.1 million houses for 2017 in northern Chinese regions.
Natural Gas MCX Short Covering, Support Zone Level 171—168
Gold Silver Reports – Technically Natural Gas MCX market is under short covering as market has witnessed drop in open interest by 7.92% to settled at 19436 while prices up 1.2 rupees.
MCX Natural Gas Above 117 Level Target 130-134 Levels
Gold Silver Reports ~ Natural Gas MCX March as seen in the weekly chart above has opened the week with gap down at 122.50 levels and at the starting of the week sessions it made a weekly low of 119.50 levels.