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Commodities

MCX Natural Gas Price Edges Up on Short-Covering Bounce

Guavy AI Editorial Team
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Natural Gas
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The price of natural gas on the MCX (Multi Commodity Exchange) reached Rs 258.90/mmBtu on August 18, 2026, marking a modest recovery of +0.39% from yesterday's sharp 3.26% decline.

According to Ankit Jaiswal, Research Analyst at Univest, this recovery is a short-covering bounce from oversold RSI levels (below 35 yesterday), rather than a trend reversal in the natural gas price prediction for tomorrow.

Kunal Singla, also a Research Analyst at Univest, notes that the natural gas price prediction for tomorrow faces competing forces: oversold RSI provides short-covering support, while fundamentals (above-average US gas inventory builds and tapering summer cooling demand) remain bearish.

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