Natural Gas yesterday we have seen that market has moved 0.49% as bargain buying lifted a market that had fallen for the previous four weeks. The gas survey has correctly forecast the direction of prices 48 percent of the time since its June 2004 introduction. If gas supply grows by 1 billion cubic feet a day in 2012, which is about half the pace of supply gains each year since 2005, some 2.3% of coal demand in the electric sector would be displaced. Market has opened at 183 & made a low of 182.6 versus the day high of 183.9. The total volume for the day was at 1605 lots and the open interest was at 14613. Now support for the Natural Gas is seen at 182.7 and below could see a test of 182. Resistance is now likely to be seen at 184, a move above could see prices testing 184.6.

Trading Ideas:

Natural Gas trading range is 182-184.6.

Natural gas rose as bargain buying lifted the market

Natural gas looks to have a support at 180.40 and resistance at 186.80

Gas survey has correctly forecast direction of prices 48% of time since its June 2004 introduction.

NATURAL GAS $ IS TRADING AT : 4.01$