Natural Gas Breakout Suggesting Skyrocketing Heating Bills?

Rising energy prices are stirring up plenty of inflation concerns across the financial markets. And major breakouts for Crude Oil and Natural Gas are looking like an unpleasant October surprise for consumers.

This theme has been at the forefront of my research, penning an article on prospective Oil and Gas breakouts on October 6th “Energy Crisis Brewing”, as well as an article on October 14th on the Natural Gas ETF “Testing Top Of Falling 7-Year Price Channel”.

Today, we revisit this stark reality by sharing a chart of Natural Gas Futures on a long-term “monthly” basis. As you can see, Natty Gas is attempting to close the month as its highest price in 13 years!

Should natural gas futures close the month above its 2009 monthly closing highs ($5.57), it could spell more pain for consumers with heating bills. A breakout here could target prior highs around the $13 mark.

There are still 4 days to go… how natural gas closes the month could be critical to consumers' pocketbooks… as well as the inflationary investment theme. 

(Click on image to enlarge)

Disclosure: Sign up for Chris's Kimble Charting Solutions' email alerts--click here.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.