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Natural Gas Price Prediction – Prices Rally on Strong Inventory Report

From fxempire.com

Natural gas prices sustained upward momentum on Thursday for the third trading session in a row. According to the National Oceanic Atmospheric Administration, the weather is expected to be warmer than normal during the next 6-10 days and 8-14 days throughout most of the South. Temperatures have been cooler in the Northwest. Inventories rose in the latest week. According to the EIA Natural Gas Storage Report that was released on Thursday, working gas storage rose by 76 Bcf from 1,567 Bcf to 1,643 Bcf. Expectations were for natural gas inventories to rise by 66 Bcf in the latest week. Technical Analysis: On Thursday, ... (full story)

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  • Category: Technical Analysis