Natural gas ended lower as an oversupply of the fuel weighed on prices, despite forecasts for hot weather. Natural gas inventories have grown quickly this year as producers continued to unlock vast new supplies of the fuel.
Natural Gas yesterday we have seen that market has moved -3.7%. Market has opened at 228.1 & made a low of 218.1 versus the day high of 232. The total volume for the day was at 60435 lots and the open interest was at 10081.
Now support for the Natural Gas is seen at 213.9 and below could see a test of 209.1. Resistance is now likely to be seen at 227.8, a move above could see prices testing 236.9.
Trading Ideas:
Natural Gas trading range is 209.1-236.9.
Natural gas ended lower as an oversupply of the fuel weighed on prices
Natural gas looks to take resistance at 222.20 and support is at 213.90.
Natural gas inventories have grown quickly this year
