Natural gas rose as a European rescue package eased concern that a sovereign debt collapse would undermine an economic recovery. Rigs drilling for natural gas fell by five last week to 953, the lowest level in five weeks, according to data published May 7. Natural Gas yesterday we have seen that market has moved 3.59%. Market has opened at 182.5 & made a low of 181.6 versus the day high of 190.8. The total volume for the day was at 20621 lots and the open interest was at 9359.Now support for the Natural Gas is seen at 183.6 and below could see a test of 178. Resistance is now likely to be seen at 192.8, a move above could see prices testing 196.4.

Trading Ideas:

Natural Gas trading range is 178-196.4.

Natural gas rose as a European rescue package eased concern

Now resistance is at 190.60 above this a rally till 193-195 can be seen.

Rigs drilling for natural gas fell by five last week to 953

BUY NAT.GAS MAY @ 186 SL 184 TGT 188-191.MCX