Natural gas ended higher propelled by a relatively small injection into natural gas storage and forecasts for hot weather in the weeks ahead.
The U.S. Energy Information Administration reported that 28 billion cubic feet of gas were added to storage in the week ended July 23, falling short of consensus estimates for a build of 31 billion cubic feet.
Natural Gas yesterday we have seen that market has moved 1.16%. Market has opened at 221.9 & made a low of 221.2 versus the day high of 227.8.
The total volume for the day was at 67939 lots and the open interest was at 7007.Now support for the Natural Gas is seen at 221.5 and below could see a test of 218.
Resistance is now likely to be seen at 228.1, a move above could see prices testing 231.2.
Trading Ideas:
Natural Gas trading range is 218-231.2.
Natural gas ended higher propelled by a relatively small injection into natural gas storage
Natural gas looks to take resistance at 228.10 and support is at 221.50.
The U.S. EIA reported that 28 billion cubic feet of gas were added to storage
