Natural gas prices consolidated ahead of Thursday release of the EIA natural gas inventory report on November 5, 2015. In the report released last week,
Natural gas prices consolidated ahead of Thursday release of the EIA natural gas inventory report on November 5, 2015. In the report released last week, the natural gas inventory rose by 63 Bcf for the week ending October 23, 2015. Market surveys project natural gas inventory could rise by 75 Bcf for the week ending October 30, 2015.
Prices are hovering near support at 2.18, and are poised to test resistance near the 20-day moving average at 2.51. Momentum remains negative but the RSI is oversold as it is printing a reading of 25, 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.
