Natural gas rose on speculation that prices have reached a bottom after dropping to a one-year low during a seasonal lull in demand. U.S. natural gas inventories are too high to sustain prices and companies may have to curtail drilling and production to find a price floor. Natural Gas yesterday we have seen that market has moved 0.37%. Market has opened at 162.8 & made a low of 162.2 versus the day high of 162.8. The total volume for the day was at 1448 lots and the open interest was at 37137.Now support for the Natural Gas is seen at 162.2 and below could see a test of 161.9. Resistance is now likely to be seen at 162.8, a move above could see prices testing 163.1.

Trading Ideas:

Natural Gas trading range is 161.9-163.1.

Natural gas rose on speculation that prices have reached a bottom

Natural gas looks to test support at 159.60 and resistance is seen at 164.80.

U.S. natural gas inventories are too high to sustain prices