Natural gas driven lower as traders took profits after a rally earlier in the week. Mild weather in the eastern and central U.S. last week helped to curb the demand for natural gas to generate electricity for cooling, leading to a larger-than-normal injection into gas inventories. Natural Gas yesterday we have seen that market has moved -1.93%. Market has opened at 238.6 & made a low of 231 versus the day high of 241.8. The total volume for the day was at 30270 lots and the open interest was at 5701.Now support for the Natural Gas is seen at 228.7 and below could see a test of 224.5. Resistance is now likely to be seen at 239.5, a move above could see prices testing 246.1.

Trading Ideas:

Natural Gas trading range is 224.5-246.1.

Natural gas driven lower as traders took profits after a rally earlier in the week

Natural gas is taking support at 231.60 below this looks till 230-228 level

Today natural gas storage: Exp: 86B Prev: 99B

BUY NAT.GAS @ 231-232 SL 228 TGT 237-241.MCX