Natural Gas yesterday we have seen that market has moved -1.62% after a government report showed adequate supplies of the heating fuel to meet cold-weather needs. The EIA said natural gas in storages declined by 89 billion cubic feet. Gas output will average a record 62.09 billion cubic feet a day this year, the department said in the report. The total was up 1 percent from a November estimate. Market has opened at 207.8 & made a low of 203.1 versus the day high of 210.7. The total volume for the day was at 59013 lots and the open interest was at 17144.Now support for the Natural Gas is seen at 201 and below could see a test of 198.3. Resistance is now likely to be seen at 208.6, a move above could see prices testing 213.5.

Trading Ideas:

Natural Gas trading range is 198.3-213.5.

Natural gas ended lower after report showed adequate supplies to meet cold-weather needs

Natural gas looks to test support at 201 and resistance is seen at 206.20.

The EIA said natural gas in storages declined by 89 billion cubic feet.