Natural gas as near-record inventories were more than adequate to meet the arrival of colder weather. Temperatures dropped in the U. S. Northeast and other major gas-fueled heating markets over the weekend, marking the start of the delayed winter demand season. Investors also remain extremely pessimistic about the chances for prices to keep rising. Natural Gas yesterday we have seen that market has moved -7.93%. Market has opened at 187.6 & made a low of 172.3 versus the day high of 188.1. The total volume for the day was at 73851 lots and the open interest was at 17350. Now support for the Natural Gas is seen at 167.5 and below could see a test of 162. Resistance is now likely to be seen at 183.3, a move above could see prices testing 193.6.

Trading Ideas:

Natural Gas trading range is 162-193.6.

Natural gas ended down as inventories blunt cold weather impact

Natural gas looks to test support at 170.80 and resistance is seen at 176.20.

Investors also remain extremely pessimistic about the chances for prices to keep rising