The seasonal price trend chart for natural gas shows price movement over the past 3 and 5 years in comparison to the current year.
The months of August or September are the two months when the second and final seasonal low for the year is typically set.
For this current year, the market has been attempting to form a bottom with a possible double bottom reversal forming on the spot September 14 contract.
A decisive breakout above resistance at the lower-4.000 level by the spot contract is now needed to turn the longer term trend back higher.
Seasonally, once a low does form, a rally back higher into the early months of 2015 is expected.
This may be the final opportunity to complete winter 14-15 coverage near a market low.
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