Free MCX Natural Gas Tips : Above ₹ 190 Buy on Dips Target and Stop Loss Paid
“No Magic, No Miracle, Just Power of Level”
Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team
Mobile No. 9582247600 & 9899900589
Gold Silver Reports (GSR) – Natural Gas on MCX settled up 0.56% at 198.40 traded in the range tracking Nymex Natural gas prices which consolidated, moving slightly higher before the July 4, break.
Warmer than normal weather is expected to cover most of the United States for the next 8-14 days increasing cooling demand which could see electricity blackouts. While production remains solid, there is a need for substantial increases ahead of the drawing season in October.
According to NatGas Weather, “production is just too strong for the markets to ignore, aided by reports of weekend production at or exceeding all-time highs, thereby weighing more heavily on prices than hefty deficits and hotter than normal temperatures.”
Genscape, Inc. data showed that lower 48 production appears to have cracked the 80 Bcf/d mark. Following pipeline reported revisions to nominations data, its production team showed volumes hit around 80.05 Bcf/d on June 28 and June 29.
Bespoke Weather Services said it attributed Monday’s sell-off to production reaching “record levels” over the week-end and to a slight cooling in medium-term forecasts. Meanwhile the EIA reported revisions to working gas levels in the South Central region increased working gas levels by 4 Bcf for the week ending July 15, 2018. – Neal Bhai Reports (NBR)
