Natural gas futures on India’s Multi Commodity Exchange (MCX) have reversed a two-week downtrend, posting a sharp rally that suggests a short-term uptrend is resuming.
The contract, which had fallen to a low of ₹286.20 per mmBtu, climbed approximately 8% last week, breaking through immediate resistance levels and signaling renewed buying interest among domestic traders.
The price action marks a notable shift in sentiment for the commodity, which had been under sustained pressure.
Technical analysts point to the breakout from the ₹286 support zone as a key indicator that the immediate downside risk has been priced out.
The move aligns with broader stabilization in energy markets, where natural gas has shown signs of recovering from oversupply concerns that weighed on prices in recent months.
This rebound in Indian natural gas futures comes amid a complex global backdrop.