Proving that resistance up at $7.500 is still very much intact, November natural gas futures on Friday put in a significant retreat. After breaching but failing to settle above $7.500 during the three previous regular trading sessions, the prompt-month contract Friday put in a $7.035 low before finishing the week at $7.041, down 33.3 cents from Thursday but 6.7 cents higher than the previous week’s close.
Breaching
Articles from Breaching
December Futures Expire Higher as Country Braces for Cold
Breaching the upper limits of its recent trading range, December natural gas futures recorded a new high of $8.380 Tuesday afternoon before going off of the board at $8.318, up 32 cents. The Canadian cold air mass over the Midwest and West that is expected to make its way into the East by late in the week also kept other contracts strong. The January natural gas futures contract climbed 20.2 cents on the day to close at $8.559.
November 29, 2006
Pre-Weekend Profit-Taking Takes Bite Out of Midweek Gains
After testing, but not breaching stubborn resistance at $4.60Thursday, natural gas futures tumbled lower Friday as traderselected to take profits ahead of the weekend. The near-month Julycontract was hit with two distinct selling waves during the firsthour of trading Friday, setting the tone for a session in which thecontract slipped 10.3 cents to finish at $4.448.
June 26, 2000
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
