Natural gas falls, Expected to recover
Published on Wednesday, February 10th, 2010 at 4:45 PMAuthor: commodityonline (38 Articles)
Natural gas finished lower as the market eyed ample gas supplies, despite forecasts for more cold weather in the coming weeks.
Natural gas yesterday traded with the negative node and settled -3.34% down at 248.4. Some support had been seen from the crude also which closed up by 2.1%, and closed at 3436.
In yesterday’s trading session natural gas has touched the low of 245.4 after opening at 255.4, and finally settled at 248.4.
For today’s session market is looking to take support at 244.1, a break below could see a test of 239.7 and where as resistance is now likely to be seen at 254.1, a move above could see prices testing 259.7.
Trading Ideas
Natural Gas trading range is 239.7-259.7.
Natural gas finished lower as the market eyed ample gas supplies
Now resistance is at 251.40 above this a rally till 254-256 can be seen.
Temperature forecasts will have less influence over price as winter fades
WAIT TO SELL ON JUMP OVERALL LOOK TILL 242 LEVEL
Courtesy: Kedia Commodities
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