Natural gas ended higher as traders took advantage of low prices, despite a mild weather outlook. Prices have continued to face pressure from fading winter heating demand and a rising rig count.

The market also has seen the rising natural gas rig count as a sign that production will increase in coming months.

Natural Gas yesterday we have seen that market has moved 0.26%. Market has opened at 189 & made a low of 188.7 versus the day high of 189.5.

The total volume for the day was at 865 lots and the open interest was at 12993.Now support for the Natural Gas is seen at 188.8 and below could see a test of 188.3.

Resistance is now likely to be seen at 189.6, a move above could see prices testing 189.9.

Trading Ideas:

Natural Gas trading range is 188.3-189.9.
Natural gas ended higher as traders took advantage of low prices
Now resistance is at 190.60 above this a rally till 193-195 can be seen.
Prices have continued to face pressure from fading winter heating demand
SELL NAT.GAS APR AT 188 SL 190.80 TGT 186.80-185.50-184.MCX

Courtesy: Kedia Commodities

Get geopolitical analysis to spot trends

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook