Commodity Naturalgas,Nickel & Mentha Oil News Update
Natural Gas
Natural Gas on MCX settled down -0.78% at 204.70 came under pressure at the start of the week amid expectations of a drop in demand, after the latest U.S. weather model predicted mild temperatures over the next two weeks. Also colder than normal weather is expected to spread across most of the United States during the next 8-14 days which will reduce cooling demand during a period when the weather normally heats up.
Trading Ideas
Natural Gas trading range for the day is 199.4-212.2.
Natural Gas settled down at 204.70 came under pressure at the start of the week amid expectations of a drop in demand.
Technically market is getting support at 202 and below same could see a test of 199.4 level, And resistance is now likely to be seen at 208.4, a move above could see prices testing 212.2.
Nickel
Nickel trading range for the day is 577.4-598.6. Nickel settled flat paring its gains after prices earlier received a boost from news that output at a Canadian mine would be suspended. The prospects of less supply bolstered nickel prices after Vale said it would suspend operations at its Birchtree nickel mine on Oct. 1 because of weak nickel prices and declining ore grades. Metals were also supported by a weaker dollar index , which wallowed near its lowest since Nov. 9 due to an intensifying political scandal around U.S. President Donald Trump.
Mentha Oil
Mentha oil on MCX settled up by 1.06% at 964.5 amid surge in demand in the domestic spot market. Further, tight stocks position on restricted supplies from producing regions to supported mentha oil prices. Stock positions of Mentha in MCX accredited warehouses were around 4727 drums, while in process were 24 drums, which is same in comparison to the previous day. As per traders, local demand is average from both the local industries as well as stockists.
Natural Gas 
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