Technical Analysis Natural Gas for 8/31/15
Natural gas prices moved higher ahead of the weekend, as traders were cautious and unwilling to hold shorts as hurricane season progresses. Prices had moved lower on Thursday following a report from the Department of Energy that showed that injections into storage grew more than expected. Prices rebounded from support
Most Popular
Natural gas prices moved higher ahead of the weekend, as traders were cautious and unwilling to hold shorts as hurricane season progresses. Prices had moved lower on Thursday following a report from the Department of Energy that showed that injections into storage grew more than expected.
Prices rebounded from support level near an upward sloping trend line that comes in near 2.62. Resistance is seen near the 50-day moving average at 2.82. Momentum remains negative with the MACD printing in the red, but the trajectory has flattened reflecting consolidation.
Advertisement
Know where Natural Gas is headed? Take advantage now with
Your capital is at risk