📆 #Naturalgas Update MCX || April 16

🔸Technical Analysis:
Support: 142
Resistance: 149.1

🔸Current Observation: Natural gas has found support at the 141.3 level.
Market News:

🔸European natural gas prices have surged to a 2024 high, driven by heightened tensions in the Middle East, supply disruptions, and forecasts of lower wind conditions.

🔸UK natural gas futures surged to a 2024 high of above 81 pence a therm, driven by geopolitical tensions, supply disruptions, and increased LNG imports from Asia.