Natural gas yesterday traded with the positive node and settled 0.15% up at 202 but pressure is mounting as the market continued to correct after last week's gain and ahead of Thursday's inventory report despite a record heatwave this week that stirred demand. The heat has mostly been priced in, so the market seems to be struggling here, but it doesn't look like the weather is going to moderate anytime soon, which should keep prices somewhat supported. However, the rally prompted some investors to sell their position on profit taking and lock in gains on speculation that the market’s recent rally had accounted for the boost to cooling needs. Industry weather group MDA Federal said earlier that it expected seasonally normal temperatures to return to the U.S. Midwest and Eastern states towards the end of July and early August. Meanwhile, concerns over rising production levels weighed on prices. In yesterday's trading session natural gas has touched the low of 197.5 after opening at 202, and finally settled at 202. For today's session market is looking to take support at 198.2, a break below could see a test of 194.3 and where as resistance is now likely to be seen at 205.2, a move above could see prices testing 208.3.

Natural Gas trading range is 194.3-208.3.

Natural ended firm after dropping earlier as forecasts that heat wave will moderate reducing demand

Natural gas traders monitor weather forecasts to determine whether temperatures may boost demand.

Today natural gas storage: EXP: 67B PREV: 84B

BUY NAT.GAS JULY @ 200-201.50 SL 198 TGT 204.50-206.80-208.50.MCX

NATURAL GAS  $ IS TRADING AT : 4.508$