The prices of natural gas surges because cold weathers are coming in addition with strong production. Therefore, in todays scenario, natural gas is in an upside position thereby hitting the mark of 9.52%. However, trading with a green candle.
Furthermore, we may expect more upside rally in the coming weeks because of robust production and coldest days in the month of December. Sources says that this year December would be colder than usual year in North-west Europe. As a result, demand may increase thereby hiking the European gas prices.
Technical scenario
Moving forward and if we converse about the forex market then currently it is trading at $7.050. Moreover, if there will be a downside panic then the support level would be $6.181 and $5.300.
Traders are advised to be careful around resistance levels who are willing to buy natural gas. It has resistance at $7.110 and $7.632.
In an upcoming days it will hover like anything, according to Global and European News.