Natural Gas is trading at $2.600, 0.02% up since previous close. The range bound trading can be seen in Natural gas prices since last two sessions as traders waits for the result of U.S Energy Information Administration (EIA) report which will show the changes in Natural gas inventory levels as compared to last week. The storage level is forecasted to drop by 76B & if actual out is in-line then an upside may be observed in Natural gas prices. The change in climatic conditions in European regions & U.S will determine the demand & trend in heating fuels like Natural gas. Buying on each corrective dip may be recommended for the day in Natural Gas since the commodity successfully reversed up from major support level of previous lows.

Copper traded at $8846.3, 0.12% up since previous close. The Copper is expected to open on higher note on Thursday as China posted better than expected inflation data which may revive the consumption demand of Copper; since China is a top metal consuming country. Earlier, the commodity showed some sort of losses against the stronger USD after the FOMC Chair hinted for aggressive rate hikes in near future in order to control the inflation rate. However, the focus will be on U.S NFP data release on Friday. As seen in chart, the Copper is forming consolidation phase is hovering between the two Fibo levels i.e. 23.6 & 38.2. A strong breakout can be seen either side if breached any of these levels. Slight buying may be recommended for the day in Copper.