Natural-gas ended down on profit booking on Saturday after trading higher Friday on forecasts for hot weather, concerns over supplies from the U.S. Gulf of Mexico and recent bullish gas inventory data. The number of rigs drilling for oil and gas in the U.S. Gulf fell by half this week to 23 rigs. The number of rigs drilling for natural gas in the Gulf fell to 14 rigs, a decline of five rigs from the previous week. Natural Gas yesterday we have seen that market has moved -1.63%. Market has opened at 232.1 & made a low of 228.7 versus the day high of 232.1. The total volume for the day was at 1678 lots and the open interest was at 6308.Now support for the Natural Gas is seen at 228.2 and below could see a test of 226.8. Resistance is now likely to be seen at 231.6, a move above could see prices testing 233.6.

Trading Ideas:

Natural Gas trading range is 226.8-233.6.

Natural-gas ended down on profit booking on Saturday

Natural gas is taking support at 227.40 below this looks till 225-223 level

The number of rigs drilling for oil and gas in U.S. Gulf fell by half this week to 23 rigs

NAT.GAS ABV 224.80 LOOK TO TEST 232.50-238 LEVEL.