Natural Gas Technical Report for January 19, 2017
Natural gas prices tumbled lower dropping more than 3%, as traders await inventory number which are scheduled to be released on Thursday. Heating demand in the north east is likely to be less than normal as the weather is expected to be warmer than normal for the next 8-14 days
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Natural gas prices tumbled lower dropping more than 3%, as traders await inventory number which are scheduled to be released on Thursday. Heating demand in the north east is likely to be less than normal as the weather is expected to be warmer than normal for the next 8-14 days according to the National Oceanic Atmospheric Administration.
Prices dropped through support which is now seen as former resistance near 3.33. Support is now seen near the January lows at 3.13. Momentum is neutral as the MACD (moving average convergence divergence) index prints in the black with a flat trajectory which reflects consolidation.
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