Natural gas climbed on speculation that cold weather in the forecast would lead to further large inventory draws and help balance a market that has long been pressed by a supply overhang. The number of gas-directed drilling rigs working in the U.S. rose by four last week. This week marked the first rise in the rig count in seven weeks. Natural Gas yesterday we have seen that market has moved 0.23%. Market has opened at 216.6 & made a low of 215.8 versus the day high of 217.4. The total volume for the day was at 1663 lots and the open interest was at 9689.Now support for the Natural Gas is seen at 216.1 and below could see a test of 215.2. Resistance is now likely to be seen at 217.7, a move above could see prices testing 218.4.

Trading Ideas:

Natural Gas trading range is 215.2-218.4.

Natural gas climbed on speculation that cold weather in forecast would lead to further large inventory draws

Natural gas looks to have a support at 215.20 and resistance at 220

The number of gas-directed drilling rigs working in the U.S. rose by four last week

BUY NAT.GAS FEB @ 213-214 SL 208 TGT 218.50-222-226.MCX