FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
19,817,231Confirmed
729,742Deaths
12,729,372Recovered
Fetching Location Data…
Advertisement
Advertisement
David Becker
natgas

Natural gas prices reversed mid-day following a report from NOAA that showed cooler than normal temperatures would cover most of the south and mid-west. Downward pressure from crude oil prices also continue to weigh on natural gas.

Prices ran into resistance created from a downward sloping trend line that connects the highs in July the high on July 30, and comes in at 2.85.  Prices moved through the 50-day moving average at 2.804 which is now short term resistance.  Support is seen near an upward sloping trend line that comes in near 2.73.  Prices have created a consolidative range that is reflected by the RSI printing a reading of 48, which is in the middle of the neutral range.

Technical Analysis Natural Gas for 8/6/15
Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Trade With A Regulated Broker

  • Your capital is at risk