Natural gas yesterday traded with the negative node and settled -0.38% down at 183.8, as a mild weather outlook weighed on prices despite an official report showing that natural gas inventories fell more-than-expected in the preceding week, erasing a surplus to the five-year average. Earlier in the day, the U.S. EIA in its weekly report that natural gas storage in the U.S. fell more-than-expected in the week ended February 4, dropping by 209 billion cubic feet, after declining by 189 billion cubic feet in the preceding week. Colder-than-normal winter temperatures increase the need for gas-fired electricity to heat homes, can boost demand for natural gas.  In yesterday's trading session natural gas has touched the low of 183.3 after opening at 185.1, and finally settled at 183.8. For today's session market is looking to take support at 181.4, a break below could see a test of 179 and where as resistance is now likely to be seen at 188.1, a move above could see prices testing 192.4.

Trading Ideas:

Natural Gas trading range is 179-192.4.

Natural gas dropped as a mild weather outlook weighed on prices despite inventories fell more-than-expected

Natural gas looks to have a support at 181.20 and resistance at 186.40

EIA said that natural gas storage fell more-than-expected dropping by 209 billion cubic feet