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Natural Gas Price Prediction – Prices Edge Lower Ahead of EIA Storage Report

From fxempire.com

Natural gas prices moved higher on Wednesday ahead of Thursday’s inventory report from the Department of Energy. Expectations are for inventories to rise by 114 Bcf according to Estimize. The weather in the southeast is expected to be warmer than normal for the next 2-weeks while the weather in the Midwest is expected to be cooler than normal. Overall, cooling demand is expected to be normal during the next 2-week period. Technical Analysis Natural gas prices edged lower on Wednesday, after testing resistance levels near the 10-day moving average at 2.40. Support is seen near the June lows at 2.30. A break of this ... (full story)

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  • Category: Technical Analysis