Natural gas rose on speculation that colder-than-normal weather expected next week would boost heating demand. Natural-gas prices were supported by expectations for a second consecutive weekly draw in U. S. inventories as heating demand begins to draw down gas stockpiles. Meanwhile, proved U. S. wet gas reserves as of December 2009 showed an increase of 11.3% from a year earlier, the EIA said in an annual report. Natural Gas yesterday we have seen that market has moved 1.34%. Market has opened at 194.6 & made a low of 191.2 versus the day high of 197.2. The total volume for the day was at 46971 lots and the open interest was at 16433. Now support for the Natural Gas is seen at 192.7 and below could see a test of 188.9. Resistance is now likely to be seen at 198.7, a move above could see prices testing 200.9.

Trading Ideas:

Natural Gas trading range is 188.9-200.9.

Natural gas rose on speculation that colder-than-normal weather will boost demand

Natural gas looks to test support at 192.70 and resistance is seen at 198.70.

Today natural gas storage: Exp: -26B Prev: -6B