Natural gas closed higher as tropical storm activity off Central America supported prices ahead on the weekend. The National Hurricane Center is tracking a low pressure area off Honduras with expectations it will become a tropical cyclone over the next 48 hours. In the near term, gas futures to remain bound by strong production and uncertainty about summer temperatures and hurricane activity. Natural Gas yesterday we have seen that market has moved 0.84%. Market has opened at 225.5 & made a low of 225.4 versus the day high of 227.5. The total volume for the day was at 710 lots and the open interest was at 4922.Now support for the Natural Gas is seen at 225.8 and below could see a test of 224.6. Resistance is now likely to be seen at 227.9, a move above could see prices testing 228.8.

Trading Ideas:

Natural Gas trading range is 217.6-229.

Natural gas closed higher as tropical storm activity off Central America supported prices

Natural gas looks to take resistance at 228.40 above this looks till 230-232.

Gas prices to remain bound by strong production and uncertainty about summer temperatures

BUY NAT.GAS JUNE @ 222 SL 219.50 TGT 224.50-226.70-229.MCX