Natural gas ended weak but recovered some of its losses amid indications of increased demand after forecasts for colder-than-average temperatures in the U. S. next week. Earlier in the day, the U. S. National Weather Service said that temperatures east of the Rocky Mountain states were expected to be colder-than-normal from February 5 through February 9. The weather service added that another winter storm was seen moving into New York and the U. S. Northeast during the period, while Chicago was expected to receive as much as 24 inches of snow on February 5. Natural Gas yesterday we have seen that market has moved -1.2%. Market has opened at 203.5 & made a low of 198.6 versus the day high of 206.2. The total volume for the day was at 44580 lots and the open interest was at 18354. Now support for the Natural Gas is seen at 197.1 and below could see a test of 194.1. Resistance is now likely to be seen at 204.7, a move above could see prices testing 209.3.

Trading Ideas:

Natural Gas trading range is 194.1-209.3.

Natural gas ended weak but recovered some of its losses amid indications of increased demand

Natural gas looks to have a support at 197.40 and resistance at 203.20

U. S Weather Service said that temperatures of Rocky Mountain were expected to be colder-than-normal

SELL NAT.GAS FEB @ 203 SL 205.50 TGT 200.8-198.50-196. MCX

NATURAL GAS $ IS TRADING AT : 4.411$