Natural Gas is trading at $2.356, 0.42% up since previous day close. A sharp rally can be seen in Natural Gas on Tuesday after the news spurred in that the Gas producers are expected to lower down the drilling & output levels amid low pricing environment in the year 2023. Last week, the U.S EIA report showed a rise in Natural gas storage levels of 78B higher than expectation 54B. This led slight selling pressure earlier. The changing weather conditions in European & US regions affects the consumption demand of heating fuel like Natural gas. As seen in the chart, the commodity is firmly trading above the major support level of $2.00 & showed a strong reversal zone thereon. Hence, buying on each corrective dip may be seen for the day in Natural gas.

COPPER is trading at $8161.3, 0.08% up since previous close. The Copper is expected to open on slightly higher side on Tuesday amid mixed USD ahead of the resolving talks between U.S Joe Biden & top officials regarding debt ceiling repayment. Last week, the strong USD as US issued higher inflation rate which raises the chances of aggressive rate hike led selling bias in Copper. The soft Chinese economic figures released today can subdue the Copper to some extent since China is a major consumer of metals. The result of U.S Retail Sales data will remain in focus for the day. As seen in the chart, the Copper slid down to previous lows which acts as a major support level & hence, the reversal may be noticed further. Buying on dips may be seen for the day in copper.