Natural Gas Week Ahead
Alexandros Yfantis | Jun 17, 2018 12:59AM ET
Natural Gas Futures markets rallied during the week closing at $3.02 on the NYMEX, a significant 4.88% higher than the week before. A pipeline accident in Kansas and the stronger dollar against major currencies had a positive impact on prices. We are looking at a range bound without large trading volumes and we still want to see more of an uptrend channel above the major resistance area of $3.00 to feel more comfortable buying the longer term. Next two weeks will tell us a lot. Keeping in mind that summer consumption is half of winter’s and underground stocks will keep on building. Of course, just like in past weeks, we can play both long and short in the hourly chart or even when the 4-hour MACD and RSI are signaling. CFD markets are more appropriate for this. In any case, we do not want to go against the market, although longer term sentiment has to be identified in the coming weeks.
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