Natural Gas is trading at $2.952, 0.29% up since previous day close. A strong breakout can be seen in Natural gas prices ahead of the release of U.S Energy Information Administration (EIA) report which is expected to show a rise in Natural gas inventory levels by 24B. Last week, the report showed a rise in Natural gas inventory levels by 14B lower than expectation 18B. This indicates shortage in storage & supplies levels & hence, prices moved up. The strong rise in demand against the supplies on account of frequent change in weather conditions in U.S & European regions; which increases the consumption demand of heating fuels like Natural gas. As seen in the chart, the Natural Gas succeeds to breach the MA (200) & hence, buying on correction may be recommended further.

COPPER traded at $8428              .3, 0.01% up since previous close. The sideways trading can be seen in copper prices after U.S bans the technology investments in China which escalated the U.S & China trade tension. The mixed result of Chinese inflation figures may boost up the demand of industrial metals; for China is a top consumer of base metals. Also, the traders remain cautious ahead of the release of U.S inflation data due to be out today. Last week, the Fitch downgraded U.S credit rating from AAA to AA+ which may affect the country’s manufacturing & industrial activities & hence, may reduce the demand of metals. As seen in the chart, the copper seems to be sustaining the lower trend0line of channel pattern & hence, slight buying bias may be recommended for the day