Fundamentals remain bullish. NG Natural gas futures are getting ready for December roll. November contract made a rally up to $3.1 on Wednesday and now is testing support at $2.97 - $2.95 level. A three dollar price level needs some digestion. To break above $3.2 December price will require support from colder weather forecasts and higher LNGs. Rise in seasonal demand is confirmed by weather forecasts for the second half of November and into December - January. Last week in October forecast has now turned colder predicting high national demand for the next week (NatGasWeather). Supply/demand balance is tightening. LNGs are at 8-8.5 bcf/d with expectations to increase to 10 bcf/d within the next a couple of weeks.
Technicals are pointing toward a pullback before the roll begins and prices move higher. Currently, support for November contract is seen at $2.97-$2.95 level. Even if lower prices are seen on Friday, the dip may represent a buying opportunity before the roll.
Technicals are pointing toward a pullback before the roll begins and prices move higher. Currently, support for November contract is seen at $2.97-$2.95 level. Even if lower prices are seen on Friday, the dip may represent a buying opportunity before the roll.
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해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.