Commodity Outlook for Natural Gas by KediaCommodity
Natural gas finished higher propelled by government data showing a smaller-than-expected build in U. S. gas inventories for last week. The U. S. Energy Information Administration reported an injection into gas storage of 73 billion cubic feet for the week ended April 16. Natural Gas yesterday we have seen that market has moved 3.2%. Market has opened at 177.2 & made a low of 175.7 versus the day high of 185.5. The total volume for the day was at 36153 lots and the open interest was at 10232. Now support for the Natural Gas is seen at 177.8 and below could see a test of 171.9. Resistance is now likely to be seen at 187.6, a move above could see prices testing 191.5.
Natural Gas trading range is 171.9-191.5.
Natural gas finished higher propelled by smaller-than-expected build in U. S. gas inventories
Now resistance is at 185.20 above this a rally till 187-182 can be seen.
The U. S. EIA reported an injection into gas storage of 73 billion cubic feet
SELL NAT. GAS @ 184 SL 186.20 TGT 181.50-178.20.MCX
NATURAL GAS $ IS TRADING AT : 4.12$