Natural Gas Week Ahead - Sunday, Dec 23

Natural Gas market on the Nymex had a volatile week. Price went back and forth closing 4% lower than the previous one, at $3.67. Thursday’s storage report confirmed a withdrawal of 141 Bcf in working underground stocks. This number helped the price slightly to maintain decent levels on Friday. This market is poised with a bearish sentiment for quite some time and selling rallies is the best trading option for us, on the shorter term.

We are just a month away before trading further the Spring contracts while we always anticipate price to pick up, on larger trading volumes, hedging and speculation so it can maintain an acceptable level for most of market participants before Spring. Weather will remain milder for the coming week which will maintain demand average, or even lower than normal for this time of year in most of the Lower 48. At this point, we should also be monitoring closely some macro figures, the Dollar Index, U.S. NG exports as well as the U.S. oil to gas ratio looking significantly diverged. 4Hour MACD and RSI indicating entry points.

http://trading2day.com/wp-content/uploads/2018/12/nat-gas-chart-24.12.18.jpg

Disclaimer: All persons and entities contributing to the content on this website, and their representatives, agents, and affiliates are not providing investment or legal advice on this website.Nor ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

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