Natural gas extended losses propelled lower by profit-taking and forecasts of milder weather in the major gas-consuming regions. Government data expected to show only a modest injection into gas storage for last week could give prices a boost. The U.S. Energy Information Administration is expected to report that 91 billion cubic feet of gas were added to storage during the week ended June 4. Natural Gas yesterday we have seen that market has moved -2.54%. Market has opened at 224.4 & made a low of 219.8 versus the day high of 227.5. The total volume for the day was at 23000 lots and the open interest was at 5675.Now support for the Natural Gas is seen at 217.9 and below could see a test of 215. Resistance is now likely to be seen at 225.6, a move above could see prices testing 230.4.

Trading Ideas:

Natural Gas trading range is 215-230.4.

Natural gas extended losses propelled lower by profit-taking and forecasts of milder weather

Natural gas is taking support at 218.60 below this looks till 216-214 level

Today natural gas storage: Exp: 91B Prev: 88B

SELL NAT.GAS JUNE ON JUMP @ 223 SL 227.20 TGT 220-216.40.MCX