Natural Gas Price Prediction for Next Week
| Support 2 | Support 1 | CMP | Resistance 1 | Resistance 2 |
|---|---|---|---|---|
| 159,000 | 176,499 | 196,100 | 214,146 | 255,481 |
US Natural gas prices declined over 6% during the week amidst forecasts for warmer weather near term limits consumption demand. Above-average temperatures across the Midwest and East through November 5 are expected to limit heating demand. The bearish sentiment outweighed support from a below-average storage injection of 77 Bcf for the week ended October 16, lower US production of 111.4 Bcf/d and stronger LNG feedgas demand, which rose in October. Meanwhile, speculative net short positions increased by 26,764 contracts to 126,900 contracts, reflecting weaker market sentiment. However, geopolitical uncertainty, Middle Eastern LNG shipments remaining around 80% below year-ago levels and EU gas storage at 74.62% could intensify global supply competition, limiting further downside.
Natural gas has continued to decline for 2nd consecutive week, posted weekly loss of -10% almost and closed on a negative note at 293.40. Along with this consecutive price drop, price has started trading below its all key moving averages i.e. 50, 100 and 200-DEMA levels placed at 308.10, 300.70 and 299.30 respectively. Crucial resistance would be at Daily SAR level placed at 337.70. Immediate support would be at 283.20 and breakout below this mark will boost the downside pressure in Natural gas price in upcoming sessions and next support would be at 265.30. Along with recent price decline, OI levels has been inclined to 44,420 lots in November expiry, indicating Short buildup. The momentum indicator, RSI levels remained below 50 on Daily as well as Weekly chart. Also, we can observe a bearish crossover above zero-line on Daily MACD along with negative histograms, collectively suggesting bearish bias in Natural gas price.
We may expect a bearish pressure in Natural gas prices, with the possibility of further correction. Traders may watch for sell-on-rise opportunities on price pullbacks.
Disclaimer
Investments in the securities market are subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Choice Equity Broking Private Limited: SEBI Reg No. Broking - INZ000160131 ( BSE - 3299 ) | ( NSE - 13773 ) | ( MSEI - 73200 ) | ( MCX - 40585 ) | ( NCDEX - 01006 ). Depository Participant SEBI Reg. No. - IN - DP - 84 - 2015, DP ID CDSL - 12066900, NSDL ID - IN301895. Research Analyst - INH000000222 (CIN. NO.: U65999MH2010PTC198714)
Other News
Copper Price Forecast for Next Week
LME Copper prices declined for the second consecutive week as a global selloff in artificial intelligence stocks dampened sentiment toward the metal. Concerns over elevated inventories persisted, with LME stocks rising 20% over the week to 273,750 tonnes, despite a modest increase of 800 tonnes on Friday. However, inventories registered with the Shanghai Futures Exchange fell 26.5% weekly, indicating tightening availability in China. Meanwhile, substantial copper stockpiles in the US continued to weigh on prices amid uncertainty over potential tariff measures and the risk of re-exports. Despite near-term weakness, copper retains long-term support from AI-driven data centre and power infrastructure expansion. Supply risks also remain elevated due to potential labour strikes at major mining operations and uncertainty surrounding US trade policies.
Crude Oil Price Forecast for Next Week
WTI Crude oil prices surged above $101 per barrel, approaching a five-week high, as escalating Middle East tensions heightened concerns over potential supply disruptions. Renewed Houthi attacks on Saudi energy infrastructure and Yanbu port, reports of supertankers striking mines in the Strait of Hormuz, and preparations for possible US-Israeli strikes against Iran strengthened the geopolitical risk premium. However, Persian Gulf crude exports have recovered close to prewar levels, potentially limiting supply concerns. Meanwhile, Ukraine intensified attacks on Russian refineries, adding uncertainty in regional supplies. Overall, sentiment remains bullish, with geopolitical developments and shipping disruptions likely to drive volatility and sustain upward price pressure.
Silver Price Prediction for Next Week
COMEX Silver prices faced intense downward pressure this week, falling below $54 per ounce to reach multi-month lows. Two major factors drove the decline: rising Brent crude oil prices due to Middle East supply concerns increased expectations of prolonged high US interest rates, while a sharp fall in AI and technology stocks triggered cross-asset selling to cover equity losses. Although the Federal Reserve is likely to keep interest rates unchanged at its upcoming meeting, persistent inflation and high energy prices have kept a possible December rate hike in focus. As a result, the Gold/Silver ratio expanded towards 74.51, highlighting silver's underperformance compared to gold. Investors will closely monitor upcoming US PCE inflation data and major regional trade flows to assess market direction.