Natural gas prices have turned lower on Friday following a report from the National Oceanic Atmospheric Administration that showed that Hurricane Matthew
Natural gas prices have turned lower on Friday following a report from the National Oceanic Atmospheric Administration that showed that Hurricane Matthew is projected to head north east over Jamaica, and miss the Gulf of Mexico. The gulf is where many production facilities are in the U.S. and a miss will avoid disruptions. Support is seen near an upward sloping trend line that connects the lows in March to the lows in September and comes in near 2.88.
Momentum on prices has turned negative as the MACD (moving average convergence divergence) index generated a buy signal. This occurs as the spread (the 12-day moving average minus the 26-day moving average) crosses above the 9-day moving average of the spread. The index moved from negative to positive territory confirming the buy signal.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.