Commodity Outlook for Natural Gas by KediaCommodity
Natural gas fell for a second day on expectation that a government report will probably show a bigger-than-average expansion in U. S. stockpiles of the heating and factory fuel. The Energy Department may say supplies rose 29 billion cubic feet last week. Natural Gas yesterday we have seen that market has moved -0.83%. Market has opened at 182.6 & made a low of 179.6 versus the day high of 186.8. The total volume for the day was at 37473 lots and the open interest was at 14236. Now support for the Natural Gas is seen at 178.3 and below could see a test of 175.4. Resistance is now likely to be seen at 185.5, a move above could see prices testing 189.8.
Natural Gas trading range is 175.4-189.8.
Natural gas declined yesterday on forecast of above-average supply gain
Now resistance is at 182.80 above this a rally till 185 can be seen.
Today natural gas storage: Exp: 29B Prev: 12B
SELL NAT. GAS ON JUMP TILL 184-185 SL 188.60 TGT 181.50-177.80. MCX