Does Natural Gas Breakout Suggest Skyrocketing Heating Bills?
Chris Kimble | Oct 26, 2021 04:37PM ET
Rising energy prices are stirring up plenty of inflation concern across the financial markets. And major breakouts for crude oil and natural gas are looking like an unpleasant October surprise for consumers.
This theme has been at the forefront of my research, penning an article on “Testing Top Of Falling 7-Year Price Channel.”
Today, we revisit this stark reality by sharing a chart of natural gas futures on a long-term monthly basis. As you can see, natural gas is attempting to close the month as its highest price in 13 years.
Should natural gas futures close the month above its 2009 monthly closing highs ($5.57), it could spell more pain for consumers via rising heating bills. A breakout here could target prior highs around the $13 mark.
There are still four days to go. How natural gas closes the month could be critical to consumers pocketbooks – as well as the inflationary investment theme. Stay tuned.
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