Natual Gas Price High 144.70 Near My 2nd Target Price 158 – Neal Bhai
NATURAL GAS TRADING TIPS : Natural Gas MCX – Above 114 Target 134—158, Any Panic Buy 500-100 Lots
NATURAL GAS TRADING TIPS : Natural Gas MCX – Above 114 Target 134—158, Any Panic Buy 500-100 Lots
Natural gas prices moved lower on Thursday, declining slightly more than 2% following a smaller than expected draw in natural gas inventories.
MCX Natural Gas prices settled up 0.33% at 153.2 on forecasts calling for a little colder weather in late January despite a government report showing a smaller-than-expected storage draw last week.
Future prices for natural gas “fell to a one-month low on Friday after plunging more than 12% for the week. The commodity Natural Gas is currently trading around $2.34 per million British thermal units, which is nearly 50% below where it traded a year earlier. It’s down 21% for 2019.”
Until more convincing cold starts showing up in the models, downside risk will outweigh upside potential.
Russia switched on an enormous gas pipeline to China worth billions of dollars Monday, affirming increasingly close economic and political ties between the two countries.
Natural Gas prices rebounded in yesterday’s session settled at 184.70 up by +0.49% following a larger than expected draw in natural gas inventories according to a report from the Department of Energy.
Gold Silver Reports (GSR) – Natural Gas on MCX settled up 2.03% at 180.7 following the release of a storage report that was mostly in line with expectations, but warmer-than-normal weather, low heating demand and near-record production kept a lid on prices.