

NYMEX Natural Gas extended its bullish momentum for the 6th consecutive week, surging +9.6% after finding firm support at $4.42. Prices sustained their upward trajectory throughout the week and closed at $4.73, remaining comfortably above all key moving averages. The 20-DEMA at $4.42 continues to act as immediate support, followed by the next support zone at $4.28, while the upcoming resistance hurdle is seen around $4.92–$5.19. Overall structure remains constructive, with continued strength expected as long as prices hold above the near-term support band.
MCX Natural Gas (November contract) found strong support around 375—aligning with the 20–200 DEMA crossover—and moved sharply higher by +11.2%, posting a weekly high of 419 before closing at 415. Prices now hold above all key moving averages, with the 20, 50, 100, and 200 DEMA levels placed at 384, 379, and 365 respectively, reinforcing a positively aligned trend. Immediate resistance lies at 421–441, while support remains placed at 395–375. RSI on the daily chart stands at 64.86 with the signal line at 64.05, indicating improving momentum just below overbought territory. Volumes remain stable, although Open Interest (OI) has sharply declined by around 10,000 lots over the week, suggesting long unwinding as prices approach overhead resistance.
Overall, the trend for Natural Gas remains moderately positive, with traders advised to adopt a buy-on-dips approach while remaining cautious near resistance zones. Price action around the 395–375 support band and 421–441 resistance levels will be crucial for confirming sustained upward momentum in the near term.
| Support 2 | Support 1 | CMP | Resistance 1 | Resistance 2 |
|---|---|---|---|---|
| 375 | 365 | 415 | 421 | 441 |
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