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Natural Gas Technical Report for January 19, 2017

By:
David Becker
Published: Jan 18, 2017, 19:54 UTC

Natural gas prices tumbled lower dropping more than 3%, as traders await inventory number which are scheduled to be released on Thursday.  Heating demand

Natural Gas Technical Report for January 19, 2017

Natural gas prices tumbled lower dropping more than 3%, as traders await inventory number which are scheduled to be released on Thursday.  Heating demand in the north east is likely to be less than normal as the weather is expected to be warmer than normal for the next 8-14 days according to the National Oceanic Atmospheric Administration.

Prices dropped through support which is now seen as former resistance near 3.33.  Support is now seen near the January lows at 3.13.  Momentum is neutral as the MACD (moving average convergence divergence) index prints in the black with a flat trajectory which reflects consolidation.

About the Author

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.

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