Natural gas prices attempted to move higher but were unable to move above trend line resistance that was prior support. The upward sloping trend line
Natural gas prices attempted to move higher but were unable to move above trend line resistance that was prior support. The upward sloping trend line comes in at 2.73. Additional resistance is seen near the 50-day moving average at 2.82. Support is seen near the July lows at 2.64.
Prices initially moved higher early in the trading session following a report from the Nation Oceanic Atmospheric Administration that the weather in the U.S. would be warmer than normal. It appears that downward price pressures from the petroleum complex weighed on natural gas prices in the later part of the U.S. trading session.
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.
