Commodity Outlook for Natural gas by KediaCommodity
Natural gas settled slightly higher as forecasts for cold weather in the coming week outweighed pressure from ample supplies. Forecasters continue to see cold across much of the eastern half of the U. S. beginning this weekend and extending through next week. The number of rigs drilling for natural gas increased by eight this week, to 961, a 28% increase from the same week last year. Natural Gas yesterday we have seen that market has moved 0.36%. Market has opened at 195.4 & made a low of 194.6 versus the day high of 196.
The total volume for the day was at 1087 lots and the open interest was at 17215. Now support for the Natural Gas is seen at 194.9 and below could see a test of 194. Resistance is now likely to be seen at 196.3, a move above could see prices testing 196.8. Trading Ideas: Natural Gas trading range is 194-196.8.
Natural gas settled slightly higher on forecasts for cold weather in the coming week Natural gas looks to test support at 192.80 and resistance is seen at 198.20. The number of rigs drilling for natural gas increased by eight this week, to 961.