Natural Gas traders were buying back previously sold contracts to hedge against possible cold weather next week in the major gas-consuming regions. The U. S. EIA reported a build in gas stocks of 2 billion cubic feet for last week, bringing the total amount of gas in storage to an all-time high of 3.835 trillion cubic feet.

Natural Gas yesterday we have seen that market has moved 5.69%. Market has opened at 222.1 & made a low of 221.5 versus the day high of 237.2. The total volume for the day was at 58215 lots and the open interest was at 7495. Now support for the Natural Gas is seen at 225.90 and below could see a test of 215.80. Resistance is now likely to be seen at 241.60, a move above could see prices testing 247.20.

Trading Ideas:

NATURAL GAS TRADING RANGE IS 220-250.

NATURAL GAS ENDED HIGHER AS TRADERS WERE BUYING BACK TO HEDGE AGAINST THE COLD WEATHER

BUY NAT GAS DEC @ 230-232.50 SL 227.50 TGT 235.80-239.20-244.20.MCX

NOW RES IS AT 238.80 ABV THIS A RALLY TILL 240-243 CAN BE SEEN.

EIA REPORTED A BUILD IN STOCKS OF 2BILLION CUBIC FEET BRINGING THE TOTAL TO 835 TRILLION CUBIC FEET