UPDATES ON OCT 31 2008

OCT 31 FRIDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 316 , S2 RS 311

R1 RS 323 , R2 RS 328

STAY SHORT AT RESISTENCE.

UPDATES ON OCT 29 2008

OCT 29 WEDNESDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 315.30 , S2 RS 311

R1 RS 320 , R2 RS 324

Natural Gas Gains as Snow Forecast for U.S. East

Spurs Demand .

Natural gas futures advanced in New York as forecasts for

snow in parts of the eastern U.S. signaled higher demand

for the heating fuel.

Natural gas for November delivery gained 6.5 cents, or 1.1

percent, to settle at $6.186 per million British thermal units

at 2:57 p.m. on the New York Mercantile Exchange. The

November contract expires tomorrow. Gas has dropped

17 percent this year.

The December futures contract rose 7.6 cents, or 1.2 percent,

to $6.416 per million Btu.

Lower temperatures will trim the amount of gas available to

go into storage as demand for the fuel to run furnaces increases.

About 52 percent of U.S. homes rely on gas for heat, according

to the U.S. Energy Department.

Stockpiles advanced 70 billion cubic feet in the week ended

Oct. 17 to 3.347 trillion cubic feet, the Energy Department

said last week. Supplies probably increased 40 billion

cubic feet in the week ended Oct. 24, according to the

median of six analyst estimates compiled by Bloomberg.

Gas and crude oil rose in earlier trading as stock markets rallied.

UPDATES ON OCT 24 2008

OCT 24 FRIDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 330.60 , S2 RS 328

R1 RS 338 , R2 RS 342

WAIT FOR CONFIRMATION.

UPDATES

TECHNICALS FOR OCTOBER 23

MCX OCTOBER NATURAL GAS

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

SUPPORTS; 347.5, 343

RESISTANCES 353, 357

STAY SHORT AT RESISTANCES

updates

TECHNICALS FOR OCTOBER 22

MCX OCTOBER NATURAL GAS

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

SUPPORTS : 345.50, 336

RESISTANCES : 351, 356

WAIT FOR CONFIRMATION

UPDATES

TECHNICALS FOR OCTOBER 21

MCX OCTOBER NATURAL GAS

SHORT TERM TREND :: SIDEWAYS

LONG TERM TREND : BEARISH

SUPPORTS : S1 330.50 , S2 326

RESISTANCES : R1 336, R2 340

GO SHORT AT RESISTANCES

UPDATES ON OCT 20 2008

OCT 20 MONDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 333.50 , S2 RS 329

R1 RS 340 , R2 RS 344

STAY SHORT AT RESISTENCE.

UPDATES ON OCT 17 2008

OCT 17 FRIDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 330.30 , S2 RS 327

R1 RS 336 , R2 RS 339

WAIT FOR CONFIRMATION.

Gasoline stockpiles climbed 6.97 million barrels to 193.8 million

barrels in the week ended Oct. 10, the report showed. Supplies

were forecast to rise 3 million barrels, according to the

Bloomberg survey.

UPDATES ON OCT 16 2008

OCT 16 THURSDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 321 , S2 RS 318

R1 RS 327 , R2 RS 330

STAY SHORT AT RESISTENCE.

Natural Gas Falls on Concern Demand to Wane in

Slowing Economy .

Natural gas futures in New York fell for the first time in three

days on concern U.S. demand will weaken in a slowing economy.

Natural gas for November delivery fell 13.5 cents, or 2

percent, to settle at $6.592 per million British thermal

units at 2:59 p.m. on the New York Mercantile Exchange.

Prices are down 11 percent from a year ago and touched

a one-year low of $6.535 per million Btu on Oct. 10.

U.S. gas storage levels probably rose 80 billion cubic feet in

the week ended Oct. 10, according to the median of 13

analyst estimates compiled by Bloomberg. The average

change for the period is a gain of 63 billion.

Above-normal temperatures for much of the country are

expected through Oct. 24, the Climate Prediction Center in

Camp Springs, Maryland, said in a 10-day forecast released

yesterday.

UPDATES ON OCT 15 2008

OCT 15 WEDNESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 323 ,S2 RS 320

R1 RS 329 , R2 RS 332

STAY SHORT AT RESISTENCE.

UPDATES ON OCT 14 2008

OCT 14 TUESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARSH

S1 RS 320 , S2 RS 316

R1 RS 326 , R2 RS 331

STAY SHORT AT RESISTENCE.

U.S. oil and gasoline inventories probably rose last week as

production increased and refineries opened units that were

shut last month because of Hurricanes Gustav and Ike, a

Bloomberg News survey of analysts showed.

Gasoline stockpiles probably rose 3 million barrels last week, from

186.8 million barrels the week before, according to the survey.

Supplies of distillate fuel, a category that includes heating oil

and diesel, probably gained 500,000 barrels from 122.6

million barrels.

UPDATES ON OCT 13 2008

OCT 13 MONDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 322 , S2 RS 318

R1 RS 327 , R2 RS 331

STAY SHORT AT RESISTENCE.

UPDATE

MCX NATURAL GAS OCTOBER

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

SUPPORTS ; S1 324 S2 316

RESISTANCES : R1 332 R2 338

STAY SHORT AT RESISTANCES

UPDATES ON OCT 8 2008

OCT 8 WEDNESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND ; BEARISH

S1 RS 326 , S2 RS 323

R1 RS 331 , R2 RS 334

STAY SHORT AT RESISTENCE.

Natural Gas Futures Decline on Concern of Decreasing Demand .

Natural gas fell in New York on concern that measures

from central banks to prop up economies around the

world won't be enough to prevent further slowing.

Natural gas, crude and gasoline had surged, with oil rising

as much as 6 percent, after Australia's central bank cut its

benchmark interest rate the most in 16 years and the

Federal Reserve acted to boost short-term lending.

Natural gas for November delivery fell 6.7 cents, or 0.9

percent, to settle at $6.768 per million British thermal

units at 3:08 p.m. on the New York Mercantile Exchange.

Gas earlier touched $7.011. The futures have shed 50

percent since reaching a 30-month closing high of

$13.577 per million Btu on July 3.

The Federal Reserve Board today created a special fund to

support the U.S. commercial paper market to prevent a

freeze-up in short-term debt used by companies to finance

operations. The Australian central bank cut interest rates

by 1 percentage point, the biggest drop since 1992, to

reduce borrowing costs.

A slowing economy would cut demand from commercial and

industrial users of gas, which accounted for 9.64 trillion

cubic feet, or 42 percent, of consumption in the U.S. in

2007. Interest rate cuts and money injected by central

banks may ease concern of a significant recession.

Gas in storage probably rose 85 billion cubic feet last

week, according to the median of six analyst estimates

compiled by Bloomberg. The average change for the

period is a gain of 69 billion.

Inventories of natural gas in the week ended Sept. 26 were

3.11 trillion cubic feet, the Energy Department said Oct. 2.

Supplies are expanding at a pace that would put them

slightly above the five-year average of 3.327 trillion

cubic feet at next month's start of the cold-weather

season across much of the U.S.

TECHNICALS

TECHNICALS FOR OCTOBER 7

MCX NATURAL GAS OCTOBER

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

SUPPORTS : S1 331, S2 327

RESISTANCES : R1 335, R2 338

SHORT AT RESISTANCES.

Natural Gas Falls on Commodity Collapse, Adequate Inventories

Natural gas in New York fell for a third day to its lowest

price in almost a year as investors fled commodities on

concern a widening financial crisis will further slow the

economy, cutting energy demand.

Natural gas for November delivery fell 52.3 cents, or 7.1

percent, the biggest decline in a month, to settle at $6.835

per million British thermal units at 2:56 p.m. on the New

York Mercantile Exchange. Gas was last below $7 per

million Btu on Dec. 27 and hasn't been this low since

Oct. 23, 2007. The futures have shed 50 percent since

reaching a 30-month closing high of $13.577 per

million Btu on July 3.

Other energy futures, including crude oil and heating oil,

tumbled. Crude fell as the German government pledged

$68 billion to bail out Hypo Real Estate Holding AG,

suggesting a broader crisis might cripple world markets.

Oil for November delivery fell $6.07, or 6.5 percent, to

$87.81 a barrel. Earlier it declined to $87.80, the lowest

since Feb. 7.

Inventories of natural gas gained 87 billion cubic feet in the

week ended Sept. 26 to 3.11 trillion cubic feet, the Energy

Department said Oct. 2. Analysts had forecast a 73 billion-

cubic-foot advance.

In addition to higher storage, natural gas output is forecast to

expand 8 percent in 2008 from a year earlier, boosting supplies,

according to the Energy Department.

UPDATES ON OCT 6 2008

OCT 6 MONDAY

SHORT TERM TREND : BULLISH : TARGET RS 460

LONG TERM TREND : BULLISH : TARGET RS 520

S1 RS 448 , S2 RS 444 , S3 RS 438

R1 RS 450 , R2 RS 460 , R3 RS 465

PREFER LONG AT RS 448 TO 448.50

STOP LOSS RS 445

TARGET RS 460.

UPDATES ON OCT 4 2008

OCT 4 SATURDAY

Natural Gas Falls a 2nd Day on Adequate Supplies Before Winter .

Natural gas in New York fell for a second day on speculation

supplies will be adequate to meet cold- weather demand

later this year.

Inventories gained 87 billion cubic feet in the week ended

Sept. 26 to 3.11 trillion cubic feet, the Energy Department

said yesterday. Supplies are 1.6 percent above the five-year

average for this time of year. Analysts had forecast a 73 billion

-cubic- foot advance.

Natural gas for November delivery fell 12.3 cents, or 1.6 percent,

to settle at $7.358 per million British thermal units at 2:59 p.m

on the New York Mercantile Exchange. Gas dropped 1.5 percent

this week, the fourth decline in five weeks.

The U.S. House of Representatives today approved a $700

billion government rescue plan for the financial industry to help

ease a credit crunch that threatens the world economy.

The Senate approved the measure two days ago.

A slowing economy would trim industrial demand for gas

supplies. Industrial and commercial demand accounted for

9.64 trillion cubic feet, or 42 percent, of gas consumption in

the U.S. last year, according to the Energy Department.

Hurricanes Ike and Gustav left millions of people without

electricity last month, reducing demand for gas as a fuel

at power plants.

Gas production companies in the Gulf of Mexico have restored

more than half of the offshore region's daily output of 7.4 billion

cubic feet, according to the U.S. Minerals Management Service.

UPDATES ON OCT 3 2008

OCT 3 FRIDAY

SHORT TERM TREND : BULLISH

LONG TERM TREND : BEARISH

S1 RS 362 , S2 RS 358

R1 RS 369.60 , R2 RS 373

STAY LONG AT SUPPORT.

U.S. fuel use over the past four weeks averaged 19

million barrels a day, the weakest since October 2001,

an Energy Department report showed earlier this

week. Crude-oil and gasoline inventories increased

last week, the department said.

The U.S. Senate passed a $700 billion financial-market rescue

package loaded with inducements for the House of

Representatives to approve the measure. The House

rejected a version on Sept. 29. The legislative body will

reconsider the Senate's bill today.

The U.S. may fall into a recession as the financial rout deepens,

the International Monetary Fund said in its most pessimistic

outlook for the world's largest economy since the credit

crisis began last year.