natural gas

natural gas

Monday, May 9, 2016

Natural Gas Corner - Weekly Chart Update - Listless, Sideways Trade Expected




The natural gas market appears ready to enter into a listless period of sideways, range bound trade similar to the summer of 2015.

In last summer’s trade, the market topped out 3.105 in mid-May and then remained range bound for the following 17 weeks before selling back off to a new low for the year in late-October.

This year’s sideways range may not last as long as summer 2015 but rallies in the market should continue to be sold with a final year end price decline expected later this year.

The 1.611  low set in March 2016 may not be broken as support but prices should weaken from current levels in a post-summer seasonal decline. 

A multi-year low may be forming in the natural gas market during 2016.

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