Natural gas ended higher as bitterly cold temperatures gripped the Northeast, sparking substantial demand for the fuel to heat homes and businesses. The new weather outlook reflects expectations of below-normal temperatures across most of the continental U. S., with the exception of parts of the northern tier of the country, from Feb. 6-14. Natural Gas yesterday we have seen that market has moved 4.59%.

Market has opened at 242.7 & made a low of 242.7 versus the day high of 251.9. The total volume for the day was at 28376 lots and the open interest was at 6332. Now support for the Natural Gas is seen at 244.9 and below could see a test of 239.2. Resistance is now likely to be seen at 254.1, a move above could see prices testing 257.6.

Trading Ideas:

Natural gas trading range is 235-265.

Natural gas ended higher as bitterly cold temperatures sparked the demand

Now resistance is at 253.20 above this a rally till 256-258 can be seen.

The new weather outlook reflects expectations of below-normal temperatures from Feb. 6-14.

BUY NAT GAS FEB @ 245-246 SL 240 TGT 249.80-252.60-258.MCX