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Natural Gas faces technical resistance

FXStreet (Mumbai) - Natural Gas prices are unable to rise above a technical resistance as the investors await the weekly inventory data.

Natural Gas prices briefly rose above the technical resistance of USD 3.947/mmbtu today, only to give up gains and trade just 0.10% higher at USD 3.92/mmbtu. Investors also await the U.S. Energy Information Administration’s weekly storage report due for release on Thursday . The report is expected to show that the inventories rose by 98 billion cubic feet for the week ending October 10.

Natural Gas Technical levels

Natural Gas has an immediate resistance of 3.947,above which prices can test 4.00 levels. Meanwhile, prices appear to dip into the red, opening doors for a re-test of 3.86 and 3.80 levels.

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