Natural gas tipped higher after a weekly inventories report showed a rise in stockpiles in line with expectations. The Energy Information Administration said working gas in storage rose 91 billion cubic feet for the week ended Oct. 8. Natural gas is trading in the tightest as rising U.S. production pushes inventory levels close to last year’s record, undermining profit for traders who thrive on price swings. Natural Gas yesterday we have seen that market has moved 0.18%. Market has opened at 164 & made a low of 159.5 versus the day high of 167.3. The total volume for the day was at 68853 lots and the open interest was at 28727.Now support for the Natural Gas is seen at 160.4 and below could see a test of 156.1. Resistance is now likely to be seen at 168.2, a move above could see prices testing 171.7.

Trading Ideas:

Natural Gas trading range is 156.1-171.7.

Natural gas tipped higher after inventories showed a rise in stockpiles as per expectation

Natural gas looks to test support at 160.4 and resistance is seen at 168.2.

EIA said working gas in storage rose 91 billion cubic feet for the week ended Oct. 8