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Technical Analysis Natural Gas for 11/4/15

David Becker
David Becker
natgas

Natural gas prices edged higher but remain depressed as warmer thannormal temperatures are forecasted to cover the entire United States according to the Nation Oceanic Atmospheric Administration over the next 8-14 days.

Prices are hovering near support near the October lows at 2.19.  Resistance is the 20-day moving average at 2.54.  Momentum remains negative with the MACD printing in the red with a downward sloping trajectory.  The only caveat is that the RSI (relative strength index) is printing a reading of 25, which is well below the oversold trigger level of 30 and could foreshadow a correction.

Technical Analysis Natural Gas for 11/4/15
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