Natural gas ended weak on profit booking on the weekend after prices rose Friday on forecasts for below-normal temperatures that may boost demand for the heating fuel. Gas supplies gained 67 billion cubic feet in the week ended Oct. 29 to 3.821 trillion, the Energy Department said. Stockpiles climbed to a record 3.837 trillion cubic feet last November before colder weather sparked demand, reducing supplies. Natural Gas yesterday we have seen that market has moved -0.57%. Market has opened at 174.8 & made a low of 172.6 versus the day high of 174.8. The total volume for the day was at 1068 lots and the open interest was at 15481. Now support for the Natural Gas is seen at 172.3 and below could see a test of 171.3. Resistance is now likely to be seen at 174.5, a move above could see prices testing 175.7.

Trading Ideas:

Natural Gas trading range is 171.3-175.7.

Natural gas ended weak on profit booking on Saturday

Natural gas looks to test support at 170.40 and resistance is seen at 176.20.

Stockpiles climbed to a record 3.837 trillion cubic feet last November