Natural gas prices were unable to gain traction despite news that Tropical Storm Erika is set to hit the Caribbean and head toward the Gulf of Mexico. A
Natural gas prices were unable to gain traction despite news that Tropical Storm Erika is set to hit the Caribbean and head toward the Gulf of Mexico. A hurricane can be a major disruption to natural gas production, and will generally cause a spike in prices during the August – October period. Warmer than normal weather which is also forecast through most of the United States according to NOAA, failed to lift prices.
After making a higher high on Wednesday prices slumped and close lower. Resistance is seen near the 20-day moving average at 2.76. Support is an upward sloping trend line that comes in near 2.62.
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.
