Commodity Outlook for Natural Gas by KediaCommodity
Natural gas ended higher supported by a burst of buying as traders squared their books ahead of the weekend. High levels of gas remain in U.S. storage facilities, despite recent sweltering temperatures that have reduced weekly injections of the fuel into storage. Natural Gas yesterday we have seen that market has moved 0.58%. Market has opened at 226.8 & made a low of 226.7 versus the day high of 228.7. The total volume for the day was at 1348 lots and the open interest was at 6814.Now support for the Natural Gas is seen at 226.4 and below could see a test of 225.5. Resistance is now likely to be seen at 228.4, a move above could see prices testing 229.5.
Trading Ideas:
Natural Gas trading range is 225.5-229.5.
Natural gas ended higher supported by burst of buying as traders squared positions on weekend
Natural gas looks to take resistance at 229.50 and support is at 225.50.
High levels of gas remain in U.S. storage facilities, despite recent sweltering temperatures