View full page at energyexch.com

 

Natural Gas - Technical Factors Triggering Short-Term Rebound Rally

From fxempire.com

Natural gas futures are trading higher on Wednesday. Several factors could be driving the price action. We could be looking at a slight shift in the weather forecast toward cooler temperatures. Bottom-pickers could have stepped in ahead of the main bottom at $2.521. The lack of follow-through to the downside after two days of selling pressure could’ve spooked a few weak short-sellers enough to book profits and square positions ahead of Thursday government storage report. At 13:02 GMT, January natural gas is trading $2.620, up $0.044 or +1.75%. Milder temperatures, weak spot prices, strong production and a lot of ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis