Natural gas ended lower on expectations for both mild weather and an increase in natural gas production.

Forecasts for more moderate weather in the coming weeks, and the approach of spring and generally milder temperatures, were putting some pressure on prices, signaling a seasonal shift in demand.

The number of rigs drilling for natural gas in the U.S. climbed to 927 last week, up 22% from the end of 2009.

Natural Gas yesterday we have seen that market has moved -1.98%. Market has opened at 201.1 & made a low of 197.2 versus the day high of 202.3.

The total volume for the day was at 15571 lots and the open interest was at 13710.Now support for the Natural Gas is seen at 196.4 and below could see a test of 194.2.

Resistance is now likely to be seen at 201.5, a move above could see prices testing 204.4.

Trading Ideas:

Natural Gas trading range is 194.2-204.4.
Natural gas ended lower on expectations for both mild weather and an increase production
Now resistance is at 200.20 above this a rally till 203-205 can be seen.
The number of rigs drilling for natural gas in the U.S. climbed to 927 last week
BUY NAT.GAS MAR ABV 200 SL 197.90 TGT 201.70-203.60-205.50.MCX

Courtesy: Kedia Commodities

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