Natural gas ended lower after U.S. inventories hit another record high in data from the Energy Information Administration. Gas in storage rose by 3 billion cubic feet in the week ended Nov. 12, according to government data. Ample inventories have kept a firm lid on gas prices this fall, with futures struggling to trade above $4 a million British thermal units even when cold fronts are likely to boost U.S. home heating demand. Natural Gas yesterday we have seen that market has moved -1.71%. Market has opened at 181.8 & made a low of 175 versus the day high of 183.7. The total volume for the day was at 41189 lots and the open interest was at 10830.Now support for the Natural Gas is seen at 173.9 and below could see a test of 170.1. Resistance is now likely to be seen at 182.6, a move above could see prices testing 187.5.

Trading Ideas:

Natural Gas trading range is 170.1-187.5.

Natural gas ended lower after U.S. inventories hit another record high

Natural gas looks to test support at 173.90 and resistance is seen at 182.60.

Gas in storage rose by 3 billion cubic feet in the week ended Nov. 12 – EIA