Natural gas again hit 13-month lows, as weak heating demand and ample supplies continued to pressure the market. With gas-heating demand subdued during autumn's temperate weather, the last six weekly U. S. gas inventory builds have together been well above the five-year average. Inventories are closing in on last year's record highs, pressuring prices lower as the market settles in to the mindset that the supply overhang will persist through the winter, and maybe beyond. Natural Gas yesterday we have seen that market has moved -0.42%. Market has opened at 166.6 & made a low of 165.1 versus the day high of 166.6. The total volume for the day was at 872 lots and the open interest was at 6952. Now support for the Natural Gas is seen at 165 and below could see a test of 164.3. Resistance is now likely to be seen at 166.5, a move above could see prices testing 167.3.

Trading Ideas:

Natural Gas trading range is 164.3-167.3.

Natural gas ended weak as weak heating demand and ample supplies continued to pressure

Natural gas looks to test support at 164.30 and resistance is seen at 167.30.

Inventories are closing in on last year's record highs, pressuring prices lower