Commodity Outlook for Natural gas by Kedia CommodityNatural gas fell as high inventories, weak demand and temperate weather continued to pressure prices. With tepid demand for the fuel likely this week, market participants again focused on high supplies. Drilling activity in the U. S. has increased even as prices have declined by about 40% so far this year. Natural Gas yesterday we have seen that market has moved -0.68%. Market has opened at 163 & made a low of 161.2 versus the day high of 164.3. The total volume for the day was at 35206 lots and the open interest was at 37519. Now support for the Natural Gas is seen at 160.3 and below could see a test of 159.2. Resistance is now likely to be seen at 163.4, a move above could see prices testing 165.4.

Trading Ideas:

Natural Gas trading range is 159.2-165.4.

Natural gas fell as high inventories and weak demand weighed on prices

Natural gas looks to test support at 160.3 and resistance is seen at 163.4.

Drilling activity in U. S. has increased even as prices have declined by about 40% so far