Natural gas finished lower driven by slumping commodity prices amid concerns about the European debt crisis and gloomy economic data. Ample supplies and mild spring weather also continued to place downward pressure on gas prices. The U.S. Energy Information Administration reported a build in U.S. inventories of 76 billion cubic feet for the week ended May 14. Natural Gas yesterday we have seen that market has moved -0.31%. Market has opened at 193 & made a low of 190.2 versus the day high of 198.4. The total volume for the day was at 25888 lots and the open interest was at 6430.Now support for the Natural Gas is seen at 189.7 and below could see a test of 185.9. Resistance is now likely to be seen at 197.9, a move above could see prices testing 202.3.

Trading Ideas:

Trading Ideas:

Natural Gas trading range is 185.9-202.3.

Natural gas finished lower driven by slumping commodity prices

Now resistance is at 194.80 above this a rally till 196-198 can be seen.

U.S. EIA reported a build in U.S. inventories of 76 billion cubic feet for the week

BUY NAT.GAS MAY @ 191 SL 189.80 TGT 193.50-195.80.MCX