Natural gas remains weak

FXStreet (Mumbai) - Natural gas prices remain weak after the weekly supply report showed rising stockpiles in the US. Meanwhile, ambiguous weather reports also pushed the commodity lower.

Natural gas is trading 0.68% lower at USD 3.77/mmbtu, after having failed to sustain above USD 3.8 levels. Yesterday, the prices had hit a low of USD 3.744 before the bargain hunting at lower levels pushed the prices higher.

Natural Gas Technical levels

Natural gas is trading near the support level of 3.76-3.74, below which prices can extend losses to 3.725 (July 2014 low). On the flip side, prices may rise to 3.85 if the resistance of 3.80 is breached.