Natural gas ended flat driven by mixed weather forecasts for late November and early December. Traders were closely tracking weather forecasts for signs of below-normal temperatures that could spark greater demand for natural gas for heating.

Gas inventories have reached record levels because of weak demand during the economic downturn and mostly mild temperatures in the U. S. Midwest and Northeast over the past few weeks. Natural Gas yesterday we have seen that market has moved -0.27%. Market has opened at 224 & made a low of 218.3 versus the day high of 225. The total volume for the day was at 35195 lots and the open interest was at 7017. Now support for the Natural Gas is seen at 219.4 and below could see a test of 215.5. Resistance is now likely to be seen at 226.1, a move above could see prices testing 228.9.

Trading Ideas:

NATURAL GAS TRADING RANGE IS 210-235.

NATURAL GAS ENDED FLAT DRIVEN BY MIXED WEATHER FORECASTS

BUY NAT GAS DEC @ 220-221 SL 216 TGT 225.20-227.80-230.20.MCX

NOW RES IS AT 226.40 ABV THIS A RALLY TILL 229-232 CAN BE SEEN.

TODAY NATURAL GAS STORAGE: EXP: 19B PREV: 20B

AS 2MARO US MARKET IS HAVING HOLIDAY GAS INVENTORY IS TODAY.