Natural gas increased on speculation a rebounding economy will lift demand for industrial fuel. A monthly report from the department’s Energy Information Administration on production showed output gained 1.6 percent in February to 63.85 billion cubic feet a day from January. Rising inventories and production of the power-plant fuel are weighing on prices. Natural Gas yesterday we have seen that market has moved 1.62%. Market has opened at 176.3 & made a low of 174.2 versus the day high of 179.5. The total volume for the day was at 24611 lots and the open interest was at 14126.Now support for the Natural Gas is seen at 175.6 and below could see a test of 172.2. Resistance is now likely to be seen at 180.9, a move above could see prices testing 182.8.

Trading Ideas:

Natural Gas trading range is 172.2-182.8.

Natural gas increased on speculation a rebounding economy will lift demand

Now resistance is at 180.20 above this a rally till 182-184 can be seen.

Rising inventories and production of the power-plant fuel are weighing on prices.

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