Natural gas prices moved higher on Monday but remained below resistance which is former support near the 10-day moving average at 2.847. Prices should remain under pressure as warmer than normal weather is forecast to cover most of the United States for the next 8-14 days according to the National Oceanic Atmospheric Administration.
Prices are Rangebound
Prices appear to be mid range between a downward sloping trend line that connects the highs in December and the highs in November which comes in near 3.13. Support is seen near an upward sloping trend line that comes in near 2.53. Positive momentum is decelerating as the MACD (moving average convergence divergence) histogram prints in the black with an upward sloping trajectory which points to consolidation.
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.
