Natural gas slipped to 13-month lows as high inventories and tepid demand continued to pressure prices lower. Gas prices typically rise at this time of year, supported by expectations of increased demand during the winter heating season. But high inventories have stifled rallies so far, as market participants settle into the mindset that supplies in the coming months will be more than ample. Natural Gas yesterday we have seen that market has moved -1.41%. Market has opened at 155 & made a low of 152.8 versus the day high of 157.2. The total volume for the day was at 40827 lots and the open interest was at 32885.Now support for the Natural Gas is seen at 151.8 and below could see a test of 150.1. Resistance is now likely to be seen at 156.2, a move above could see prices testing 158.9.

Trading Ideas:

Natural Gas trading range is 150.1-158.9.

Natural gas slipped as high inventories and tepid demand continued to pressure prices lower

Natural gas looks to test support at 151.8 and resistance is seen at 156.2.

The 2010 hurricane season is over for the Gulf energy production region