【when will dig deeper be available on bodi for free】Natural Gas Price Fundamental Daily Forecast – Bouncing Back After Hitting More Than 3-Month Low
Natural gas futures are edging higher on Wednesday in what appears to be technically related buying. Although we could find out later in the day that it is when will dig deeper be available on bodi for freerelated to a change in the near-term weather forecast. On Monday, prices gapped lower on both the daily and weekly charts, suggesting that the weakest long traders have finally been forced out of the market.
At 0904 GMT,
March natural gas futures
are trading $2.911, up $0.060 or +2.10% and
nearby natural gas futures
are at $3.015, up $0.075 or +2.555.
Nearby natural gas hit its lowest level since September 19 earlier in the session. Earlier in the week, sellers wiped out the entire winter season rally when they took out the bottom at $3.136.
March natural gas futures found support earlier in the session at $2.823, slightly above the September 14 main bottom at $2.810.
Short-Term Weather Forecast
According to NatGasWeather for December 31 to January 6, “A weak cool front will bring chilly conditions over New England to open the week, but quite mild over the rest of the east-central and southern US even as a weather system strengthens over Texas and the South with increasing rains, just without cold air. A more impressive cold blast will bring snow to the Rockies and Plains, with cold air into North Texas as well as highs only reach the 0s to 30s. Cold air with this Plains system will sweep across the Great Lakes and Northeast during the second half of the week for stronger national demand.”
Forecast
The early price action on Wednesday indicates the presence of technical buyers. These traders are reacting to potentially oversold conditions. Value buyers could also be present. They may like the fact that the market is trading at a three month low.
We may see a technical bounce from the test of these price levels, however, the market is far from changing the trend to up. Firstly, the market has to fill in the gap left on the charts on Monday before we can even begin talking about the upside. Secondly, as far as the March chart is concerned, buyers are going to have to overcome $3.241. Since the trend is down, we expect to see sellers return on a test of any resistance level.
Unless the cold returns, any rallies are going to be shorting opportunities.
This
article
was originally posted on FX Empire
More From FXEMPIRE:
Early Stock Market Weakness Indicates Volatility to Continue into New Year
USD/CAD Daily Price Forecast – USD/CAD Continues Bullish Price Action Driven By Greenback’s Price Dynamics
Commodities Daily Forecast – January 2, 2019
EUR/USD Price Forecast – EUR/USD Turns Dovish On Post Holiday Season Market
Bitcoin – Bears Look to Recover from a Bad Start to 2019
Natural Gas Price Fundamental Daily Forecast – Bouncing Back After Hitting More Than 3-Month Low
View comments
-
Goodfood’s Strong Growth Continues as Its Active Subscribers Count Increases 33% to Reach 306,000The Latest: Apple axes Google access to key developer toolCan Valero Energy (VLO) Keep the Earnings Surprise Streak Alive?SHAREHOLDER ALERT - Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Nova Lifestyle, Inc. (NVFY) and Lead Plaintiff Deadline: February 26, 2019Insights on the Surgical Sealant/Tissue Patch Global Market to 2025 - Key Drivers and RestraintsThe First Thing You Should Do in 2019Macau's casino revenue drops 5 percent in JanuaryBRIEF-Asia Pacific Silk Road Investment Co Announces Acquisition Of Sky State Holdings For Hk$25 MlnZuora's (ZUO) Loss Narrows in Q1, Revenues Increase Y/YThomas Reid Leaving Davis Polk to Join Comcast as Senior EVP
下一篇:As Biotech Thrives On Vaccine Hopes, Traders Look Into The Sector's Diversity
- ·Lockheed Martin (LMT) Wins $1B Deal for Super Hercules Fleet
- ·Amazon's Earnings Were Strong, but Its Outlook Disappointed: 5 Metrics You Should See
- ·BRIEF-Hebei Yangyuan ZhiHui Beverage, Units Receive Government Supporting Fund Of 239.5 Mln Yuan
- ·DCB Holdings Limited (HKG:8040) Earns Among The Best Returns In Its Industry
- ·Company News for Mar 10, 2020
- ·Should You Be Worried About ESI Group SA's (EPA:ESI) 4.1% Return On Equity?
- ·Billboard Latin Music Conference: On the ‘Magic’ of the Zumba Fitness Craze, Its Connection to Superstars Like Don Omar
- ·Why the Earnings Surprise Streak Could Continue for AbbVie (ABBV)
- ·SHAREHOLDER ALERT: TUFN EHTH R: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines
- ·Wednesday Apple Rumors: AirPower Misses 2018 Release Window
- ·Need To Know: MTR Corporation Limited (HKG:66) Insiders Have Been Buying Shares
- ·SoftBank Robotics Removes Strategy Executive Steve Carlin
- ·SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Evolus, Inc. of Class Action Lawsuit and Upcoming Deadline – EOLS
- ·Mark Goldfinger Examines the Benefits of a Hybrid Investment Strategy
- ·At US$69.43, Is It Time To Put YY Inc. (NASDAQ:YY) On Your Watch List?
- ·BRIEF-Qingdao Vland Biotech Sets Pricing For Its Shanghai IPO
- ·Is Now An Opportune Moment To Examine Unicaja Banco, S.A. (BME:UNI)?
- ·India's buffalo meat exports to plunge amid China clampdown on illegal imports
- ·Is Cembra Money Bank AG's (VTX:CMBN) High P/E Ratio A Problem For Investors?
- ·EU says Apple tax ruling not political and based on Apple data
- ·How Does Prosperity Bancshares's (NYSE:PB) P/E Compare To Its Industry, After The Share Price Drop?
- ·Simulations Plus (SLP) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
- ·Finland opens key railway projects to private investors
- ·Is Bavarian Nordic (CPH:BAVA) A Risky Investment?
- ·H2O Innovation Secures 7 New Projects, Totalling $7.6 M and Received Notice of Cancellation for One Project
- ·‘Planning for the worst’ - law firm leader predictions for 2019
- ·Otter Tail (OTTR) Tops Q3 Earnings and Revenue Estimates
- ·Bitcoin Blasts Past $34K for First Time, Hours After Blowing Through $30K
- ·An Intrinsic Calculation For Lonking Holdings Limited (HKG:3339) Shows It’s 49.1% Undervalued
- ·Scandium International Receives Notice of Mine Lease Review
- ·Xtierra Announces $1 Million Financing
- ·A Look At The Fair Value Of Canadian National Railway Company (TSE:CNR)
- ·The Big Bang Theory adds Walton Goggins, Beth Behrs
- ·BRIEF-K W Nelson Interior Design And Contracting Acquires 7 Mln Affluent Partners Shares
- ·GBP/JPY Price Forecast – Pound Continues to Grind Away at Resistance
- ·European shares start 2019 shakily as China, EU figures deepen gloom