Natural gas declined on forecasts of warmer-than-normal weather that may curb demand for the heating fuel. Gas inventories declined by 184 billion cubic feet in the week ended Dec. 17 to 3.368 trillion cubic feet, the Energy Department. Temperatures in the northern Midwest may average below- normal in January, February and March, according to the National Weather Service. Gas inventories have been declining since Nov. 19 as cold weather sparks demand for the heating fuel. Natural Gas yesterday we have seen that market has moved -0.6%. Market has opened at 184.1 & made a low of 183 versus the day high of 184.1. The total volume for the day was at 6047 lots and the open interest was at 15793.Now support for the Natural Gas is seen at 183 and below could see a test of 182.5. Resistance is now likely to be seen at 184.1, a move above could see prices testing 184.7.

Trading Ideas:

Natural Gas trading range is 182.5-184.7.

Natural gas declined on forecasts of warmer-than-normal weather

Natural gas looks to test support at 181.20 and resistance is seen at 185.80.

Gas inventories have been declining since Nov. 19 as cold weather sparks demand for the heating fuel