Commodity Outlook for Natural gas by Kedia Commodity

Commodity Outlook for Natural gas by Kedia CommodityNatural gas ended lower after a day of choppy trading as mild temperatures in the eastern U.S. outweighed bargain-buying. Supplies remain abundant amid a boom in production from onshore shale-rock formations. Natural Gas yesterday we have seen that market has moved -0.82%. Market has opened at 205.6 & made a low of 202.7 versus the day high of 206.2.

The total volume for the day was at 17581 lots and the open interest was at 13034.Now support for the Natural Gas is seen at 202.9 and below could see a test of 201.1. Resistance is now likely to be seen at 206.4, a move above could see prices testing 208.1.

Trading Ideas:

Natural Gas trading range is 201.1-208.1.

Natural gas ended lower as mild temperatures in the eastern U.S. outweighed bargain-buying

Now resistance is at 207.20 above this a rally till 210-210 can be seen.

Today natural gas storage: Exp: -107B Prev: -116B

BUY NAT.GAS MAR ABV 205.20 SL 202.80 TGT 206.80-209-212.MCX