Natural Gas is trading at $2.679, 0.26% down since previous close. The Natural gas slid heavily & tested the previous lows of $2.60 levels; last seen in the year 2020. Last week, the U.S Energy Information administration (EIA) report showed a fall in Natural gas inventories by 91B from 82B in the previous week. The fall in Oil prices makes its substitutes like Natural gas less expensive as well. The changes in European regions & U.S may affect the consumption demand of heating fuels; further making commodities more vulnerable. The result of multiple global events will remain into focus for the week. As seen in the chart, the Natural gas crossed down the major support level of MA (200) & is hovering near previous lows. Slight selling pressure may be suggested for the day in Natural gas.

Copper traded at $9212.3, 0.03% down since previous close. The Copper is expected to open on higher note on Tuesday after China posted better Manufacturing PMI which rose to 50.1 from 47.0 in the prior month & the Non-Manufacturing PMI climbed to 54.4 from 41.6 previously. This increases the consumption demand of industrial metals like Copper & Silver. Globally, the soft USD on an account of mixed chances of monetary easing in the next Fed meet led buying pressure in major commodities since they are inversely correlated. The stock level of Copper at LME started declining which further pushed up the prices. Buying bias may be build-up for the day in Copper since the commodity is strongly trading above the short term Moving Averages.