Natural gas settled lower falling nearly 4% on weak U.S. economic data and a calm weather outlook for offshore production areas. Natural gas prices are down more than 20% so far this month, pressured by a deteriorating economic outlook and the coming seasonal lull in gas use. The federal Energy Information Administration is expected to report Thursday that U.S. gas storage increased by 38 billion cubic feet during the week ended Aug. 20. Natural Gas yesterday we have seen that market has moved -3.5%. Market has opened at 192.3 & made a low of 184.8 versus the day high of 193.2. The total volume for the day was at 15324 lots and the open interest was at 12702.Now support for the Natural Gas is seen at 182.7 and below could see a test of 179.5. Resistance is now likely to be seen at 191.1, a move above could see prices testing 196.3.

Trading Ideas:

Natural Gas trading range is 179.5-196.3.

Natural gas settled on weak U.S. economic data and a calm weather outlook

Natural gas looks to take resistance at 188.60 and support at 182.20

Today natural gas storage: Exp: 38B Prev: 27B