Natural Gas Trading Range For The Day Is 166.5-180.9

Natural Gas on MCX settled up 1.06% at 172.40 on aggressive short-covering and speculative buying as support seen after a week-end cold blast over key U.S. demand areas is helping to drive natural gas prices sharply higher. According to Stock Market for the December 25 to December 28 time period, “Cold air will sweep across the northern and central U.S. the next few days with lows dropping below 0 degrees Fahrenheit to 20 degrees, with below freezing conditions also pushing into North Texas.

Technically now Natural Gas is getting support at 169.4 and below same could see a test of 166.5 level, And resistance is now likely to be seen at 176.6, a move above could see prices testing 180.9.

Trading Ideas:

*Natural Gas trading range for the day is 166.5-180.9.

*Natural Gas gained on aggressive short-covering and speculative buying as support seen after a week-end cold blast over key U.S. demand areas.

*Cold air will sweep across the northern and central US the next few days with lows dropping below 0 degrees Fahrenheit to 20 degrees.

*EIA reported last Thursday that U.S. natural gas stocks decreased by 182 billion cubic feet for the week-ending December 15.

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