Natural gas finished lower propelled by an abundance of supply despite hot weather in the major gas-consuming regions. Forecasts of unusually hot weather in the eastern and central U.S. over the next three weeks were providing some support for gas prices. Gas traders were also tracking predictions of an active hurricane season in the Atlantic basin this year. Natural Gas yesterday we have seen that market has moved -0.74%. Market has opened at 204.4 & made a low of 201.1 versus the day high of 208.9. The total volume for the day was at 28856 lots and the open interest was at 6279.Now support for the Natural Gas is seen at 199.3 and below could see a test of 196.3. Resistance is now likely to be seen at 207.1, a move above could see prices testing 211.9.

Trading Ideas:

Natural Gas trading range is 202.1-204.9.

Natural gas slid as concerns about a supply glut pressured prices

Natural gas is taking support at 200.80 below this looks till 199-197 level

Traders also tracking predictions of an active hurricane season in Atlantic.

BUY NAT.GAS JUNE @ 200 SL 198 TGT 202.50-204.80-206.MCX