Natural gas finished lower driven by oversupply concerns and mild weather. An abundance of gas supply continued to send gas prices lower Friday, with the market extending losses after Thursday's steep decline. Meanwhile, mild spring weather continues to stifle gas demand for heating and cooling. Natural Gas yesterday we have seen that market has moved -1.51%. Market has opened at 179.4 & made a low of 175.5 versus the day high of 181.6. The total volume for the day was at 25306 lots and the open interest was at 14820. Now support for the Natural Gas is seen at 173.8 and below could see a test of 171.6. Resistance is now likely to be seen at 179.9, a move above could see prices testing 183.8.

Trading Ideas:

Natural Gas trading range is 171.6-183.8.

Natural gas finished lower driven by oversupply concerns and mild weather

Now resistance is at 177.60 above this a rally till 180 can be seen.

Mild spring weather continues to stifle gas demand for heating and cooling

BUY NAT. GAS MAY ABV 178 SL 175 TGT 180-184.20-186. MCX