Natural gas prices generated an inside day on Monday which reflects indecision. Prices made a lower high and a higher low, following a slide on Friday
Natural gas prices generated an inside day on Monday which reflects indecision. Prices made a lower high and a higher low, following a slide on Friday which touched a fresh low for the December 2015 natural gas contract.
Support is seen near 2.20 per mmbtu which resistance on natural gas prices is seen near the recent breakdown level at 2.40. Momentum remains negative with the MACD printing in the red with a downward sloping trajectory which points to lower prices. The only caveat is that the RSI (relative strength index) is printing a reading of 23, which is below the oversold trigger level of 30 and could foreshadow a correction.
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.
