Natural gas ended higher after EIA report showed that natural gas storage came in line with expectations. Prices were also supported by colder weather forecasts during the last two weeks, leaving the market vulnerable to pullbacks when doubt surfaces as to the extent of the cold. U.S. Energy Information Administration reported that natural gas inventories fell by 6 billion cubic feet last week. Natural Gas yesterday we have seen that market has moved 1.82%. Market has opened at 203.7 & made a low of 200.5 versus the day high of 208. The total volume for the day was at 45433 lots and the open interest was at 12528.Now support for the Natural Gas is seen at 202.5 and below could see a test of 197.7. Resistance is now likely to be seen at 210, a move above could see prices testing 212.7.

Trading Ideas:

Natural Gas trading range is 197.7-212.7.

Natural gas ended higher after EIA report showed that gas storage fell as expected

Natural gas looks to test support at 204.60 and resistance is seen at 210.

EIA reported that natural gas inventories fell by 6 billion cubic feet last week