TechTalkz
No Result
View All Result
Tuesday, April 20, 2021
  • Login
  • Home
  • World
  • Economy
  • Stock Market
  • Opinion
  • Markets
  • Privacy Policy
  • About Us
  • Contact Us
Subscribe
TechTalkz
  • Home
  • World
  • Economy
  • Stock Market
  • Opinion
  • Markets
  • Privacy Policy
  • About Us
  • Contact Us
No Result
View All Result
TechTalkz
No Result
View All Result
Home Forex Trading

Natural gas prices await important data around $ 3 levels

by Sam
February 11, 2021
in Forex Trading, Technical Analysis
0
Natural gas prices await important data around $ 3 levels
204
SHARES
2.6k
VIEWS
Share on FacebookShare on Twitter

Summary of market expectations for natural gas inventories data –

This Thursday, we await the Energy Information Administration’s report on natural gas stocks, with expectations that they will record 2510 billion cubic feet in storage during the week ending February 5th.
Projections are for a decline of 179 billion cubic feet, a decrease of 58 billion cubic feet from last year and 54 billion from the five-year average.
Over the next 30 days, total natural gas demand is projected to be 126.0 billion cubic feet per day, which is 11.7 billion cubic feet per day higher than last year.
If you have contracts (March or April), you are hostage to the whims of the weather.
Strategically and fundamentally, it makes sense to buy from the bottoms of the summer contracts as the EOiS Storage Index is currently very low.

We note the fluctuation of natural gas prices on the chart and the stability of its movement between the levels of $ 3 and $ 2.75. But it is still trading above a rising trend line and the 50 and 100 moving averages on the 4 hour chart. After its recent bounce from $ 2.75 levels, the odds of seeing a retest of the $ 3 levels increase. This possibility will diminish with the price breaking the support of $ 2.75, and lower levels appear on the horizon.

In all cases, natural gas remains currently under seasonal temperature pressure, as we notice that the demand for natural gas is affected by global temperatures. As temperatures rise in the Northern Hemisphere, the demand for natural gas may decline. Usually, this occurs during this period every year, and with the decline in gas prices, more investors tend to sell natural gas contracts, which puts pressure on its price.

Tags: forexnatural gastrading
  • Trending
  • Comments
  • Latest
GBPJPY: A trade setup

GBPJPY: A trade setup

February 11, 2021
The Glorious World of EVs: markets to be watched

The Glorious World of EVs: markets to be watched

February 6, 2021

High-Speed Traders In Search of New Markets Jump Into Bitcoin

January 3, 2021
Apple Talks Recently Pauseed with Hyundai, Kia

Apple Talks Recently Pauseed with Hyundai, Kia

February 6, 2021
GBPJPY: A trade setup

GBPJPY: A trade setup

0

Oil Heads for Best Weekly Gain in Month on Keystone Disruption

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

Fund Tracking Bitcoin Launches in Europe as Crypto Gains Backers

0
GBPJPY: A trade setup

GBPJPY: A trade setup

February 11, 2021
AUDJPY strong rallies leave question marks

AUDJPY strong rallies leave question marks

February 11, 2021
Natural gas prices await important data around $ 3 levels

Natural gas prices await important data around $ 3 levels

February 11, 2021
What will happen to MasterCard after the decision to support digital currencies?

What will happen to MasterCard after the decision to support digital currencies?

February 11, 2021

Recent News

GBPJPY: A trade setup

GBPJPY: A trade setup

February 11, 2021
AUDJPY strong rallies leave question marks

AUDJPY strong rallies leave question marks

February 11, 2021

Categories

  • Cryptocurrency
  • Economy
  • Forex Trading
  • Gadget
  • Markets
  • Opinion
  • Politics
  • Real Estate
  • Startup
  • Stock Market
  • Technical Analysis
  • Viewpoints
  • World

Site Navigation

  • Home
  • Privacy Policy
  • About Us
  • Contact Us

© 2021 TechTalkz - Forex & crypto traindg news & magazine TeckTalkz.

No Result
View All Result
  • Home
  • World
  • Economy
  • Stock Market
  • Opinion
  • Markets
  • Privacy Policy
  • About Us
  • Contact Us

© 2021 TechTalkz - Forex & crypto traindg news & magazine TeckTalkz.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.