MCX-Natural Gas on a minor recovery mode

The bearish trend in natural gas seems to have lost momentum as the October expiry futures contract of the commodity in Multi Commodity Exchange of India (MCX) posted some recovery after marking a two-month low of ₹157.5 during the past week. In fact, by studying the chart, one can spot a hammer candlestick pattern in the weekly time frame, which may be an indication of further recovery in the contract price.