Natural gas fell after government reports showed bulging U.S. inventories and rising production. The EIA reported that inventories grew by 83 billion cubic feet last week, well above consensus estimates for a build of 70 billion cubic feet. Total gas in U.S. storage as of April 23 was 1.912 trillion cubic feet, 18.8% above the five-year average and 5.6% above last year's level. Natural Gas yesterday we have seen that market has moved -8.73%. Market has opened at 195.1 & made a low of 178.2 versus the day high of 196.3. The total volume for the day was at 59655 lots and the open interest was at 15553.Now support for the Natural Gas is seen at 172.5 and below could see a test of 166.3. Resistance is now likely to be seen at 190.6, a move above could see prices testing 202.5.

Trading Ideas:

Natural Gas trading range is 166.3-202.5.

Natural gas fell after government reports showed bulging U.S. inventories

Now resistance is at 180 above this a rally till 182-184 can be seen.

The EIA reported that inventories grew by 83 billion cubic feet last week

BUY NAT.GAS MAY @ 178 SL 176 TGT 180-182.50.MCX