Natural gas ended lower after a choppy trading session, pressured by lower-than-expected company earnings and weak economic data.
Meanwhile, Tropical Storm Colin was expected to steer clear of gas infrastructure in the Gulf of Mexico, although the storm was a reminder of the approaching peak of the Atlantic hurricane season on Sept. 1.
Natural Gas yesterday we have seen that market has moved -1.28%. Market has opened at 219.8 & made a low of 215.2 versus the day high of 223.8. The total volume for the day was at 55631 lots and the open interest was at 10694.
Now support for the Natural Gas is seen at 212.9 and below could see a test of 209.7. Resistance is now likely to be seen at 221.5, a move above could see prices testing 226.9.
Trading Ideas:
Natural Gas trading range is 209.7-226.9.
Natural gas ended lower on weak data and lower earnings
Natural gas looks to take resistance at 219.50 and support is at 212.90.
Tropical Storm Colin was expected to steer clear of gas infrastructure in the Gulf of Mexico
