#NaturalGas Update | 20Mar | MCX

Timeframe: 1Hour
Strategy: Long

Technically
Natural gas price is forming a triangle pattern, suggesting a potential breakout. Traders watch for a decisive move.

As per the news

1. Natural gas prices surged as colder US weather forecasts increased heating demand.
   
2. Shutdown of a Texas LNG terminal unit limited exports, while lower US electricity output dampened demand.
   
3. Weekly EIA reports showed a smaller-than-expected decline in inventories, indicating ample supplies.