Analysis of Natural Gas Prices: Price Catches its Breath

Started by OZER, Jun 08, 2022, 09:58 PM

Previous topic - Next topic

Prices for natural gas in the spot market (CFDS ON NATURAL GAS) have been trading higher at intraday levels recently, to see slight gains of 0.13% per day up to the moment of writing this report. Yesterday's price reached $9,300 per million British thermal units, after increasing by 0.15% during the trading session.

Tuesday's session was calmer than Monday, with natural gas futures failing to maintain early gains as traders took profits. As of July 31, the price of gas for one million British thermal units stood at $9.293 and 2.9 cents. As a result, the August futures contract dropped by 2.8 cents to $9.278.

In the US, Texas is experiencing high temperatures and gas prices have moved higher once again, according to NGI's National Average.

For the six to 14-day forecast period, the National Weather Service is predicting normal or above-seasonal temperatures for most of the country, resulting in higher cooling demands.

Analysts said 97 billion cubic feet per day would ease soaring production pressure in the mid-1990s, but at that time production was stuck in the low range.

In technical terms, the price temporarily breaks temporarily, allowing for some profit-making and not allowing for positive forces to gather that may help it recover and rise again. As demonstrated in the attached chart (daily), the bullish trend has been dominating the market for the past several months. In addition to the sustained positive trend for the previous 50 days, the relative strength indicators have shown a surge in positive signals.

As such, we remain positive about the future. As long as the price of natural gas remains above the support level 8.870, we expect it to rise during its upcoming trading sessions, heading toward first near resistance levels at 9.550.
All content is for education purpose only, not financial advices.

Well I really appreciate ️ for the amazing Bitcoin flip done for me yesterday

I see 2 collar workers that still only make $8-12 an hour and those that have TOO MUCH. I live in a rich State in which people are poor. The richer the state, the poorer its people. Our minimum wage is still $7.25 and business owners use this as an excuse to pay $9...because "it's $2 above minimum wage, what else do you want!?" While our local economy is booming, the average shmo is severely underpaid, giving the fact that it's Californians with BIG money moving here and severely f**king up the economic balance. If we had less rich and overpaid business owners, we wouldn't have inflation, because nobody could afford inflation. The government sees (and tracks income and profits of the general public) how many new above-average A**holes have a pulse within U.S. borders, and fake -->accidental inflation<-- on purpose, making it seem like it's some alien entity causing the effect. It's a clever scam, a theatrical play if you will, to create a continuous larger divide. It is being done on purpose ....  there are no run-away accidents.

Nature may abhour a vaccum, but the human world loves bubbles.

Yes it can be stopped, just abolish the central bank Or set a Constitutional Amendment spending limit

Musk knows his stock is coming down, he's probably shorting his own stock (covering his own ass) and then blame the economy.

If the money crashed, where did it go? There had to be someone to benefit from it after all.

I can't understand the mandate for the federal reserve is supposed to be stability when they are the ones to cause even more unstable events. They should only ever control the money supply based on the population and not by natural disasters and now we're seeing the product of that happening. People always seem to blame companies first for a lot of the issues at hand whenever we have a crisis arise but don't understand who were the ones to start it and continue to produce more of them. Interest rates should be at least a couple of percentage points higher because these low interest rates are providing an incentive to just borrow freely without any repercussions.   I can see why bitcoin was created to challenge the stupidity of the monetary system but again it's filled with corruption and flawed with the same issue with everyone trying to play mind games with the public to make it seem like it's a fair game. I truly think the best way to get a good money system in place that is based on merit and genuine work is by utilizing the blockchain concepts to monitor for fairness in all transactions instead of just making them public. Something that denies out weighted transactions and promotes balance and stability over the toxic growth mindset beyond everything mentality.

 will hit $3 when recession hits. It doesn't help that they pay their employees with stock.

Depending on China for goods & wasting 2 trillion dollars on a war is how we got here.