UPDATES

TECHNICALS FOR DECEMBER 23

MCX JANUARY NATURAL GAS

SHORT TERM ; BEARISH

LONG TERM : BEARISH

SUPPORTS ; 251.30, 249,247

RESISTANCES :256, 259,,262

STAY SHORT AT RESISTANCES.


Natural gas fell for a fourth day on concern a recession

in the U.S. will reduce demand, keeping stockpiles above

average for this time of year.

Natural gas for January delivery fell 4 cents, or 0.8

percent, to settle at $5.294 per million British thermal

units at 3:01 p.m. on the New York Mercantile Exchange.

Today’s settlement price is the lowest since Sept. 27,

2006, when it was $4.201 per million Btu.

U.S. gas stockpiles in the week ended Dec. 12 were 3.7

percent above the five-year average, greater than a

3.5 percent surplus a week earlier, the Energy Department

said last week. Supplies were 3.167 trillion cubic feet.