Natural gas continued their fall pressured by ample supplies and forecasts for prolonged mild weather. Stockpiles climbed to a record 3.837 trillion cubic feet last November before cooler weather spurred demand for the heating fuel and began to reduce supplies. Storage in the province was not as tight as last October's record highs due to reduced production, easing concerns about producers shutting-in volumes. Natural Gas yesterday we have seen that market has moved -0.36%. Market has opened at 165.1 & made a low of 162.8 versus the day high of 165.8. The total volume for the day was at 12832 lots and the open interest was at 9257.Now support for the Natural Gas is seen at 163.3 and below could see a test of 161.6. Resistance is now likely to be seen at 166.3, a move above could see prices testing 167.6.

Trading Ideas:

Natural Gas trading range is 161.6-167.6.

Natural gas continued their fall pressured by ample supplies

Natural gas looks to test support at 163.30 and resistance is seen at 166.30.

Storage in the province was not as tight as last October's record highs