Natural gas yesterday traded with the negative node and settled -1.37% down at 190.2. as natural gas inventories fell less-than-expected last week, official data showed on Thursday. Earlier in the day, the U. S. EIA said in its weekly report that natural gas storage in the U. S. in the week ended March 18 fell by 6 billion cubic feet, after declining by 56 billion cubic feet in the preceding week. According to the data, total U. S. natural gas storage in the week ended March 18 stood at 1.612 trillion cubic feet. Stocks were 12 billion cubic feet less than last year at this time and 34 billion cubic feet above the five-year average of 1.578 trillion cubic feet for this time of year. In yesterday's trading session natural gas has touched the low of 188.4 after opening at 194, and finally settled at 190.2. For today's session market is looking to take support at 186.8, a break below could see a test of 183.4 and where as resistance is now likely to be seen at 195.2, a move above could see prices testing 200.2.

Trading Ideas:

Natural Gas trading range is 183.4-200.2.

Natural gas erased gains after a report showed that natural gas inventories fell less-than-expected

Natural gas looks to test support at 186.80 and resistance is seen at 195.20.

EIA said in its weekly report that natural gas storage in U.S. fell by 6 billion cubic feet