Natural gas ended down flirting with the key level of $4 a million British thermal units as mild weather and ample supplies continued to pressure the market lower. Moderate temperatures in the coming weeks were expected to curb the demand for natural gas for heating. Total gas in U.S. storage as of March 12 was 1.615 trillion cubic feet, about 4.7% above the five-year average for the same week. Natural Gas yesterday we have seen that market has moved -0.64%. Market has opened at 188 & made a low of 185 versus the day high of 190.4. The total volume for the day was at 15617 lots and the open interest was at 12175.Now support for the Natural Gas is seen at 185.2 and below could see a test of 182.4. Resistance is now likely to be seen at 190.6, a move above could see prices testing 193.2.

Trading Ideas:

Natural Gas trading range is 182.4-193.2.

Natural gas ended down as mild weather and ample supplies continued to pressure the market lower

Now resistance is at 190.20 above this a rally till 193-195 can be seen.

Moderate temperatures in the coming weeks were expected to curb the demand

SELL NAT.GAS MAR @ 188 SL 190.20 TGT 186.80-185.50-184.MCX