Natural gas pared its gains as traders sold off positions amid expectations for warm weather and weaker demand over the next few weeks. The natural gas rig count is also on the rise, and the market is anticipating that fresh supplies will begin coming online. Natural Gas yesterday we have seen that market has moved 0.5%. Market has opened at 178.6 & made a low of 176.7 versus the day high of 182.6. The total volume for the day was at 25158 lots and the open interest was at 13647.Now support for the Natural Gas is seen at 176.6 and below could see a test of 173.7. Resistance is now likely to be seen at 182.5, a move above could see prices testing 185.5.

Trading Ideas:

Natural Gas trading range is 173.7-185.5.

Natural gas pared its gains on expectations for warm weather and weaker demand

Now resistance is at 180.80 above this a rally till 183-185 can be seen.

The natural gas rig count is also on the rise

BUY NAT.GAS APR ABV 182 SL 180.00 TGT 184.20-186-188.50.MCX