Natural Gas yesterday we have seen that market has moved -0.87% as forecasts showed above-normal temperatures across major U.S. gas-heating markets in the coming weeks. The number of rigs drilling for natural gas in the United States fell this week for the third straight time, slipping by one to 905, oil services firm Baker Hughes. The gas-directed rig count has dropped in nine of the last 11 weeks, but is still above the 11-month low of 902 hit on Jan. 14. The count is down nearly 9 percent from its 2010 peak of 992 in mid-August. Market has opened at 174.5 & made a low of 172.4 versus the day high of 174.5. The total volume for the day was at 1048 lots and the open interest was at 13564.Now support for the Natural Gas is seen at 172.1 and below could see a test of 171.2. Resistance is now likely to be seen at 174.2, a move above could see prices testing 175.4.

Trading Ideas:

Natural Gas trading range is 171.2-175.4.

Natural gas continued its weak trend as forecasts showed above-normal temperatures

Natural gas looks to have a support at 170.20 and resistance at 176.80

The number of rigs drilling for natural gas in US fell by one to 905 last week

BUY NAT. GAS MAR ABV 178 SL 175 TGT 180.20-183.50-185.MCX

NATURAL GAS  $ IS TRADING AT :  NATURAL GAS  $ IS TRADING AT : 3.866$