Natural Gas is trading at $2.687, 0.06% up since previous day close. An upward momentum 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 level by 76B lower than expectation 83B. This indicates lesser supplies against the rising demand. The rise consumption demand from U.S & European regions on changing weather conditions made the commodity expensive last week. In the month of May, the commodity reversed upside from $2.00 levels after the major Natural Gas producers are expected to lower down drilling & output levels amid low pricing environment in the year 2023. Buying on corrective dip may be recommended for the day in Natural Gas.

COPPER traded at $8217.3, 0.09% down since previous close. The Copper seems to be trading steady amid mixed result of Chinese PMI figures since China is a major consumer of base metals. Earlier in this week, the prices slid down to $8200 levels against the strong USD as Fed & other Central Bank chiefs hinted for a hawkish stance in future course of time in order to control the inflation rate. The political instability in Russia made the metals to trade on lower side. The rising Copper stocks level at London Metal Exchange (LME) made the prices to trade on lower side. As seen in the chart, the Copper crossed down the long-term MA (200) with heavy trading volume & the ADX line is moving below the level 25. This indicates indecisive trend in copper on daily basis.