-
Natural Gas Analysis: Potential Price Rise Ahead
The price of natural gas has closely approached the psychological level of 3.00 USD/MMBtu. At that, the asset’s price is trying to test this level for the third time in a row. As the cold season approaches, the demand for natural gas will gradually increase since it plays a crucial role in heating residential and municipal buildings. Geopolitics also strongly affect gas prices. So, the price of gas might potentially break the level of 3.00 USD/MMBtu and target the resistance level of 4.00 next. Also, a fine bottom with the neckline can be spotted on the daily and weekly timeframes, just at the level of 3.00. And ... (full story)