Natural gas finished lower as traders took profits on indications that Tropical Storm Alex will veer away from energy infrastructure in the Gulf of Mexico. High volumes of gas production from onshore shale-rock formations were also driving prices lower. Gas producers have ramped up drilling activity as prices have strengthened over the past few weeks. Natural Gas yesterday we have seen that market has moved -2.3%. Market has opened at 226.6 & made a low of 220 versus the day high of 227.1. The total volume for the day was at 21657 lots and the open interest was at 6102.Now support for the Natural Gas is seen at 219 and below could see a test of 215.9. Resistance is now likely to be seen at 226.1, a move above could see prices testing 230.1.

Trading Ideas:

Natural Gas trading range is 215.9-230.1.

Natural gas finished lower as storm veers towards Mexico

Natural gas looks to take resistance at 223.60 above this looks till 225-227.

High volumes of gas production from onshore shale-rock formations were driving prices lower

BUY NAT.GAS JULY @ 220-221 SL 217.50 TGT 224.50-227.50-230.MCX