Natural gas yesterday traded with the range bound node and settled flat at 184.5 we have seen prices slumping to an eight-week low this week, as a warmer-than-normal weather outlook indicated reduced demand for the heating fuel. Natural gas futures, which have lost nearly 16% since hitting a 5-month high of 220 on January 24, are on track for their lowest winter peak since 2001-02. The U.S. Midwest is a key gas-heating market, warmer-than-normal winter temperatures decrease the need for gas-fired electricity to heat homes, reducing demand for natural gas. Meanwhile, report is that U.S. heating demand was expected to be 18% below normal levels in the week of Feb 14 to 18. In yesterday's trading session natural gas has touched the low of 182.2 after opening at 185.7, and finally settled at 184.5. For today's session market is looking to take support at 182.5, a break below could see a test of 180.5 and where as resistance is now likely to be seen at 186.2, a move above could see prices testing 187.9.

Trading Ideas:

Natural Gas trading range is 180.5-187.9.

Natural gas ended with slight gains as traders weighed a warming weather outlook

Natural gas looks to have a support at 182.60 and resistance at 187.20

Today natural gas storage: EXP: 191B PREV: 189B