MCX Natural Gas Falls -2.95% on Demand Weakness

WHAT HAPPENED MCX Natural Gas slumped to 283.2 INR/mmBtu at 03:03 am IST, extending a -2.95% loss from the previous close. The decline reverses the +3.64% intraday rally posted at 03:29 am IST and signals renewed weakness across the energy complex. MCX Crude mirrored this softness at 9289 INR/bbl (-0.24%), while safe-haven Gold held at 146482 INR/10g (-0.53%), indicating broad-based profit-taking in commodities.

WHAT IT MEANS The contract has now breached the lower half of its 24-hour range and sits 30.2 INR below this morning's peak of 313.2 INR/mmBtu. For MCX futures traders, this signals breakdown momentum from intraday resistance. The correlation slip with Crude suggests independent natural gas weakness—likely reflecting softer seasonal demand and inventory pressures entering the Asian morning session.

WHAT TO WATCH 280 INR/mmBtu support level. A close below this round number would confirm continuation toward the lower band. Hold above it to validate a technical bounce into the 288–295 INR zone at the US open.