Natural Gas is trading at $2.583, 0.11% up since previous day close. An upside can be seen in Natural Gas prices post release of U.S Energy Information Administration (EIA) report which showed a rise in Natural gas storage levels by 84B much lower than estimated rise of 97B which indicates lesser storage levels & supplies from U.S. Earlier, the commodity reversed upside from major support level of $2.00 levels with heavy trading volume. The major Natural Gas producers are expected to lower down drilling & production levels amid low pricing environment in the year 2023 which remains positive for prices. As seen in the chart, the Natural gas is trading near previous higher levels which indicates a strong breakout if breached.

COPPER traded at $8572 .3, 0.11% down since previous close. The Copper closed at lower levels on Friday & is expected to open weaker in Monday as well amid mixed global cues. The China’s PBoC is to announce its changes Prime Lending Rate & stimulus package on Tuesday which will remain significant for Copper since China is a major consumer of base metals. The mixed USD ahead of the U.S Fed Powell’s testifying speech            on Wednesday will determine a trend in global commodities. The decline in copper stocks level at London Metal Exchange (LME) remains positive for prices. As seen in the chart, the Copper crossed over MA (200) & hence, a strong breakout can be observed further. Buying on correction may be recommended for the day in copper.