Natural Gas yesterday we have seen that market has moved -0.36% as forecasts for a return to normal temperatures in major gas-heating markets near the end of the month outweighed support from expectations of a larger-than-average weekly drawdown in supplies. Strong gas production from shale formations pushed inventories to an all-time high in November, and stockpiles are still 9.8% above the five-year average. This week's EIA report is expected to show a draw of 166 billion cubic feet. Market has opened at 193 & made a low of 191.2 versus the day high of 195.2. The total volume for the day was at 33869 lots and the open interest was at 23309.Now support for the Natural Gas is seen at 191 and below could see a test of 189.1. Resistance is now likely to be seen at 195, a move above could see prices testing 197.1.

Trading Ideas:

Natural Gas trading range is 189.1-197.1.

Natural gas fell on warming weather view

Natural gas looks to test support at 190.80 and resistance is seen at 194.60.

Today natural gas storage: Exp: -166B Prev: -89B