Natural gas prices moved higher on Friday, climbing 2%, and poised to test short-term resistance which is seen near 3.14. Additional resistance is seen
Natural gas prices moved higher on Friday, climbing 2%, and poised to test short-term resistance which is seen near 3.14. Additional resistance is seen near the November highs at 3.23. Support is seen near a gap that was created in November at 3.0. Prices are chopping around sideways and have remained in a relatively tight range for the past 2-months.
Momentum is Neutral
Momentum on natural gas prices is neutral as the MACD (moving average convergence divergence) histogram prints near the zero-index level with a flat trajectory which reflects consolidation. The relative strength index (RSI) is also moving sideways, which reflects choppy market conditions, and is currently printing a reading of 52, which is in the middle of the neutral range and also reflects 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.