David Becker
Add to Bookmarks

Natural gas prices consolidated on Friday after breaking down on Thursday following a larger than expected build in natural gas inventories. There are no storms in the Caribbean or Atlantic that are expected to turn into tropical cyclones. The weather is expected to be warmer than normal over the next 6-10 and 8-14 days according to an NOAA forecast. This should continue to weigh on prices. LNG exports were unchanged.

Know where Natural Gas is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Technical Analysis

Natural gas prices rose on Friday after breaking down on Thursday following a larger than expected build in natural gas inventories. Prices are poised to test the March lows near 2.63. Resistance is seen near former support near 2.75. Prices have rebounded out of the oversold territory. The RSI (relative strength index) is printing a reading of 32, after closing at 28 on Thursday, which could foreshadow a correction. Short-term momentum has turned positive as the fast stochastic generated a crossover buy signal. The fast stochastic is printing a reading of 16, below the oversold trigger level of 20 which could foreshadow a correction.


LNG Exports were Unchanged

US LNG exports are flat week over week. Eighteen LNG vessels with a combined LNG-carrying capacity of 64 Bcf departed the United States between November 12 and November 18, 2020, according to shipping data provided by the EIA Two more tankers were loading on Wednesday, November 18—one at Freeport LNG terminal and one at Corpus Christi LNG.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker