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Technical Analysis Natural Gas for 8/31/15

By:
David Becker
Published: Aug 29, 2015, 05:11 UTC

Natural gas prices moved higher ahead of the weekend, as traders were cautious and unwilling to hold shorts as hurricane season progresses.  Prices had

Technical Analysis Natural Gas for 8/31/15

Natural gas prices moved higher ahead of the weekend, as traders were cautious and unwilling to hold shorts as hurricane season progresses.  Prices had moved lower on Thursday following a report from the Department of Energy that showed that injections into storage grew more than expected.

Prices rebounded from support level near an upward sloping trend line that comes in near 2.62.  Resistance is seen near the 50-day moving average at 2.82.  Momentum remains negative with the MACD printing in the red, but the trajectory has flattened reflecting consolidation.

Technical Analysis Natural Gas for 8/31/15
Technical Analysis Natural Gas for 8/31/15

About the Author

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.

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