Natural gas extended their gains, as weather forecasts for chilly temperatures ahead helped push prices higher. As for production, the U. S. EIA trimmed the size of the decline in output it expects next year, while raising its forecast for growth in natural gas production this year. Natural Gas yesterday we have seen that market has moved 2.58%.

Market has opened at 233.5 & made a low of 232.2 versus the day high of 241.5. The total volume for the day was at 47538 lots and the open interest was at 11447. Now support for the Natural Gas is seen at 233.3 and below could see a test of 228.1. Resistance is now likely to be seen at 242.6, a move above could see prices testing 246.7.

Trading Ideas:

NATURAL GAS TRADING RANGE IS 225-250.

NATURAL GAS EXTENDED THEIR GAINS DUE TO WEATHER FORECASTS FOR CHILLY TEMPERATURES

SELL NAT. GAS DEC BELOW 237 SL 240.60 TGT 234.50-232.50-228.60-225.20. MCX

NOW RES IS AT 241.40 ABV THIS A RALLY TILL 244-246 CAN BE SEEN.

U. S. EIA TRIMMED THE SIZE OF THE DECLINE IN OUTPUT IT EXPECTS NEXT YEAR