Natural gas ended down on speculation that rising production and tepid demand will send U. S. stockpiles soaring in the months ahead. The number of gas rigs working in the U. S. increased to 959 in the week ended April 9, up 44 percent from July. An increase in rigs indicates output from gas fields may gain later this year. Natural Gas yesterday we have seen that market has moved -2.2%. Market has opened at 181.7 & made a low of 175.8 versus the day high of 186.6. The total volume for the day was at 51785 lots and the open interest was at 14982. Now support for the Natural Gas is seen at 173.1 and below could see a test of 169.1. Resistance is now likely to be seen at 183.9, a move above could see prices testing 190.7.

Trading Ideas:

Natural Gas trading range is 169.1-190.7.

Natural gas ended down on anticipation of ample supplies

Now resistance is at 178.80 above this a rally till 180-182 can be seen.

The number of gas rigs working in the U. S. increased to 959 in the week ended April 9

NAT. GAS BELOW 182 LOOK WEAK FOR SUPPORT AT 176-174.20 LEVEL.