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Natural Gas rises from a technical support

FXStreet (Mumbai) - Natural Gas November futures have gained in the US Session, after the prices bounced from a technical support level hit earlier today.

Natural Gas is trading 0.64% higher at USD 3.87/mmbtu, bouncing from a technical support of USD 3.845/mmbtu. The U.S. Energy Information Administration (EIA) reported yesterday that natural gas stocks increased by 105 billion cubic feet for the week ending October 3. The stocks rose slightly less than the market expectation of about 108 billion cubic feet. Prices have been under pressure this week due to the prospects for warmer temperatures.

Natural Gas Technical levels

Natural Gas a resistance of 3.9; breach of which shall open doors for 3.941 levels. On the flip side, prices can slide to 3.786 levels if the support of 3.815 is taken out.

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