Natural gas rose for the first time in nine days as higher-than-normal temperatures were forecast for the U.S. Northeast, boosting demand for air conditioning. Hot weather has helped erode a supply surplus compared with five-year average inventories. The surplus peaked in April at 18.8 percent above the five-year average and declined to 6.2 percent the week ended Aug. 20. Natural Gas yesterday we have seen that market has moved 3.68%. Market has opened at 176 & made a low of 175.3 versus the day high of 185.6. The total volume for the day was at 57379 lots and the open interest was at 22568.Now support for the Natural Gas is seen at 177.1 and below could see a test of 171. Resistance is now likely to be seen at 187.4, a move above could see prices testing 191.6.

Trading Ideas:

Natural Gas trading range is 171-191.6.

Natural gas rose as higher than normal temperatures were forecast boosting demand

Natural gas looks to take resistance at 187.40 and support at 177.10

Hot weather has helped erode supply surplus compared with five-year average inventories