

| Support 2 | Support 1 | CMP | Resistance 1 | Resistance 2 |
|---|---|---|---|---|
| 255.80 | 270 | 294.20 | 313.10 | 324.40 |
MCX natural gas futures climbed above the 290 level on Friday, ending the week nearly 12% higher as escalating tensions in the Middle East raised concerns over potential disruptions to global gas supplies. Market sentiment was largely driven by uncertainty surrounding the restoration of full operations at QatarEnergy’s Ras Laffan facility, the world’s largest LNG export hub. Supply worries have intensified further as the Strait of Hormuz remains closed, threatening LNG shipments from the Gulf region. Additional support for prices came from a larger-than-expected storage withdrawal and Warmer-than-normal US weather outlook is expected to keep demand weak, though supply disruption fears from the Strait of Hormuz may limit downside. In Europe, natural gas futures surged more than 50% during the week, reaching their highest levels since early 2023 amid early signs of supply stress. Moldova’s breakaway Transnistria region warned it could run out of gas within days, while analysts estimate that European gas storage may end March at just 22–27% capacity, well below the five-year average of around 41%. Meanwhile, the US administration is considering measures to address rising energy prices.
Natural gas price has rebounded marginally from the recent dips and gained a positive momentum by +12% past week, closed at 294.20. Price has managed to settle over 20-DEMA level placed at 286.70. Price is still below its key averages i.e. 50 and 100-DEMA levels placed at 313.10 and 324.40 respectively. These will be its key resistance for upcoming week and breakout of these levels will accelerate upward momentum in Natural gas price. Major support would be at Daily SAR level placed at 255.80. Despite of recent price rebound, Open Interest in March contract has declined to 18,020 lots RSI levels have revived marginally towards 50 level on Daily as well as on Weekly chart. Also, we can observe a bullish crossover on Daily MACD with positive histograms.
We are expecting further Sideways-to-Bullish trend in Natural gas and traders may keep an eye on key levels to breakout for the further course of price-action.




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