6 Apr 2015
Natural Gas futures retreat
FXStreet (Mumbai) - Natural Gas futures in the US retreated on Monday in anticipation of a weak demand during Spring.
The futures fell 1.68% to USD 2.668/mmBtu, erasing the part of the gains witnessed on Thursday after data showed that US natural gas supplies fell more than expected last week. Moreover, the gains were expected to remain capped as the coldest part of the winter has passed and the demand for heating and air-conditioning could go down in the near future.
Natural Gas Technical Levels
The immediate resistance is seen at 2.697, above which gains could be extended to 2.719. On the flip side, a break below 2.616 could drive the prices lower to 2.583.
The futures fell 1.68% to USD 2.668/mmBtu, erasing the part of the gains witnessed on Thursday after data showed that US natural gas supplies fell more than expected last week. Moreover, the gains were expected to remain capped as the coldest part of the winter has passed and the demand for heating and air-conditioning could go down in the near future.
Natural Gas Technical Levels
The immediate resistance is seen at 2.697, above which gains could be extended to 2.719. On the flip side, a break below 2.616 could drive the prices lower to 2.583.