Natural gas rose above 4% as market participants bet the cooler-than-normal weather expected in some major gas-consuming markets would boost gas-heating demand. Gas prices typically rise in anticipation of winter's heating needs, but temperate autumn weather and bloated gas stockpiles have kept advances subdued so far this year. Some market participants have been waiting for the arrival of winter cold before making bets that gas prices will rise. Natural Gas yesterday we have seen that market has moved 4.91%. Market has opened at 174.7 & made a low of 174.7 versus the day high of 182.8. The total volume for the day was at 36277 lots and the open interest was at
13733. Now support for the Natural Gas is seen at 176.7 and below could see a test of 171.6. Resistance is now likely to be seen at 184.8, a move above could see prices testing 187.8.

Trading Ideas:

Natural Gas trading range is 171.6-187.8.

Natural gas rose as cooler-than-normal weather expected in some major gas-consuming markets

Natural gas looks to test support at 178.60 and resistance is seen at 184.20.

The number of rigs drilling for natural gas fell by 12 last week, to 955.