Commodity Outlook for Natural Gas by KediaCommodity
Natural gas fell as traders cashed out of the market to profit on the week's rally, ending a five-day streak of gains. The Energy Department cut its gas price estimate in its monthly Short-Term Energy Outlook on Sept. 8. Natural Gas yesterday we have seen that market has moved -0.81%. Market has opened at 184.6 & made a low of 184.3 versus the day high of 184.6. The total volume for the day was at 1732 lots and the open interest was at 20686.Now support for the Natural Gas is seen at 184.3 and below could see a test of 184.1. Resistance is now likely to be seen at 184.6, a move above could see prices testing 184.7.
Trading Ideas:
Natural Gas trading range is 184.1-184.7.
Natural gas fell as traders cashed out of the market to profit on the week's rally
Natural gas looks to take resistance at 187.60 and support at 181.80.
Energy Department cut its gas price estimate in its monthly Short-Term Energy Outlook.