Natural Gas is trading at $2.141, 0.21% down since previous close. The Natural gas seems to be trading on lower side on Wednesday as US Dollar strengthens & weakens the global commodities ahead of the release of U.S FOMC Minutes which is due today. Last week, the U.S EIA report showed a fall of 100B in Natural gas inventories against expected fall of 97B; how-so-ever failed to lift up the prices. The focus will remain on this week’s U.S EIA estimates which will be issued on Thursday. The prices are still hovering near multi-year lower levels as Oil showed downward momentum which makes its substitutes weaker. As seen in the chart, the Natural gas is hovering near previous lows; hinting for the selling bias for the day with low trading volumes.

Copper traded at $9177.3, 0.31% up since previous close. The base metals rallied on Tuesday amid sharp rise in consumption demand as major economies showed a progress in their PMI figures. Besides this, the economic conditions in China seem to be improving which may retain demand of Copper since China is a major consumer of base metals. On global front, the traders are susceptible over forthcoming FOMC’s monetary policy meeting since the recent U.S NFP figures & CPI data has turned higher than previous figures. The stock level remains at lower levels; affecting the supplies & hence, prices shoots up. As seen in the chart, the Copper successfully reversed upside from Fibo level 38.2 & hence, buying on lower side may be recommended for the day.