Natural gas edged higher despite mild weather and ample supplies, as traders took advantage of recent price declines. Prices were also receiving some support from natural gas consumers such as utilities and industrial users, which were locking in prices on the fuel. Natural gas yesterday traded with the positive node and settled 0.51% up at 176.2. Some support had been seen from the crude also which closed up by 0.93%, and closed at 3753. In yesterday's trading session natural gas has touched the low of 173.1 after opening at 176.2, and finally settled at 176.2. For today's session market is looking to take support at 173.6, a break below could see a test of 170.9 and where as resistance is now likely to be seen at 178.4, a move above could see prices testing 180.5.

Trading Ideas:

Natural Gas trading range is 170.9-180.5.

Natural gas edged higher as traders took advantage of recent price declines

Now resistance is at 178.80 above this a rally till 180-182 can be seen.

Prices were also receiving some support from natural gas consumers such as industrial users

BUY NAT. GAS @ 174-175 SL 172 TGT 178.20-180.50.MCX