Tuesday, May 20, 2008

NATURAL GAS UPDATES


MAY 20 TH TUESDAY

SHORT TERM TREND : SIDEWAYS : TARGET Rs 461 TO Rs 482



LONG TERM : BULLISH : TARGET Rs 520



S : SUPPORT R :RESISTENCE

S1 :472.50 ,S2 : 468 ,S3 : 466
R1 :478 , R2 :482 , R3 : 486

Natural gas spot prices increased in a majority of regions of the Lower 48 States this report week (Wednesday–Wednesday, May 7-14).The Henry Hub spot price increased $0.43 per million Btu (MMBtu) to $11.51, the highest average price recorded at the Henry Hub in more than 2 years.

As the price of crude reached a record high of $ 125.94 per barrel last Friday Natural gas

traded at $ 11.29 per MMBtu.

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