Natural Gas yesterday we have seen that market has moved -0.99% as traders cashed out to profit from recent gains amid ample supplies. EIA Tuesday lifted its 2010 gas production estimates. U.S. natural gas production this year should show a 3.5% increase from 2009 levels, the EIA said, up from the 2.5% increase previously forecast. Market has opened at 203 & made a low of 199.3 versus the day high of 205. The total volume for the day was at 35623 lots and the open interest was at 16630.Now support for the Natural Gas is seen at 197.9 and below could see a test of 195.8. Resistance is now likely to be seen at 203.6, a move above could see prices testing 207.2.

Trading Ideas:

Natural Gas trading range is 195.8-207.2.

Natural gas ended down as traders book profit amid ample supplies

Natural gas looks to test support at 197.90 and resistance is seen at 203.60.

U.S. natural gas production this year should show a 3.5% increase from 2009 levels