Natural Gas yesterday we have seen that market has moved -4.04% after a weekly government storage report reinforced the view that gas stockpiles will be ample to meet winter's heating needs. The U. S. Energy Information Administration reported that natural gas inventories fell by 164 billion cubic feet last week. Natural gas in U. S. storage for the week ended Dec. 10 stood at 3.561 trillion cubic feet, 9.9% above the five-year average. Market has opened at 193.5 & made a low of 184.4 versus the day high of 194.1. The total volume for the day was at 48836 lots and the open interest was at 23677. Now support for the Natural Gas is seen at 181.6 and below could see a test of 178.2. Resistance is now likely to be seen at 191.3, a move above could see prices testing 197.6.

Trading Ideas:

Natural Gas trading range is 178.2-197.6.

Natural gas fell after weekly storage report meets needs

Natural gas looks to test support at 181.60 and resistance is seen at 188.40.

EIA reported that natural gas inventories fell by 164 billion cubic feet last week