Natural gas yesterday traded with the positive node and settled 3.09% up at 197.3 extended sharp gains from the previous session on Monday, jumping to a three-week high after forecasts showed warmer-than-normal temperatures across much of the U.S., boosting demand expectations for the fuel. Industry weather group MDA Federal said that temperatures this week are expected to be warmer-than-normal from the Gulf Coast through the upper Midwest and parts of the Northeast, with warmth seen lingering through next weekend along the East Coast. Meanwhile, the Commodity Weather Group said that next week “should be the warmest of the season so far for the East Coast cities as temperatures persistently reach the 80s. Combined with moderate humidity levels, it could feel like the 90s at times." In yesterday's trading session natural gas has touched the low of 190.9 after opening at 191.5, and finally settled at 197.3. For today's session market is looking to take support at 192.8, a break below could see a test of 188.4 and where as resistance is now likely to be seen at 199.8, a move above could see prices testing 202.4.

Trading Ideas:

Natural Gas trading range is 188.4-202.4.

Natural gas climbed after weather forecasts calling for warmer-than-usual temperatures rising demand.

Natural gas looks to test support at 192.80 and resistance is seen at 199.80.

Buyers cautiously re-entering market but prices may not climb without additional signs of demand