Natural gas plunged as U.S. supplies grown more rapidly than normal over the last four weeks. The EIA said that inventories increased by 85 billion cubic feet last week, higher than both the expected 78-brillion cubic feet build and the five-year average build of 67 billion cubic feet. Natural Gas yesterday we have seen that market has moved -4.63%. Market has opened at 172.7 & made a low of 164.2 versus the day high of 173.4. The total volume for the day was at 62302 lots and the open interest was at 37862.Now support for the Natural Gas is seen at 161.6 and below could see a test of 158.3. Resistance is now likely to be seen at 170.8, a move above could see prices testing 176.7.

Trading Ideas:

Natural Gas trading range is 158.3-176.7.

Natural gas plunged as U.S. supplies grown more rapidly than normal over last four weeks

Natural gas looks to test support at 161.6 and resistance is seen at 170.8.

The EIA said that inventories increased by 85 billion cubic feet last week