Bulls

Natural gas futures bulls made another assault on resistance at $4.500 but received the same response as on Monday as the January contract was unable to settle above the important price level. The prompt-month contract ended up closing at $4.393, down 9.5 cents from Monday’s close.

Bolstered by an eastern chill that is gripping the eastern third of the United States, natural gas futures bulls on Monday pushed the January contract to a high of $4.540. The prompt-month contract ended up finishing the regular session at $4.488, up 13.9 cents from Friday’s close.

Natural gas futures bulls received a little cheer heading into the Thanksgiving holiday after the Energy Information Administration (EIA) reported that 6 Bcf was withdrawn from underground storage for the week ending Nov. 19. As a result, December futures jumped higher Wednesday only to give back those gains to go off the board at $4.267, up three-tenths of a penny from Tuesday’s finish and 10.3 cents higher than the previous Friday’s close.

Natural gas price bulls who were hanging their hats on winter cold to turn prices around might want to invest in a hat rack instead as MDA EarthSat Weather reported in a Nov. 1 update that much of the country will be warmer than first expected for the months of December through February. The outlook for March, however, did trend slightly cooler overall.

Natural gas price bulls who were hanging their hats on winter cold to turn prices around might want to invest in a hat rack instead as MDA EarthSat Weather reported in a Nov. 1 update that much of the country will be warmer than first expected for the months of December through February. The outlook for March, however, did trend slightly cooler overall.

Natural gas bulls looking ahead to next year are a little like Goldilocks after she broke into that house: they have three bears to deal with, or rather “bearish factors,” as energy analyst Stephen Smith calls them.

After knocking on the psychological resistance door three times earlier this month, natural gas bulls finally reached $5 and settled above it on Monday as the July contract recorded a $5.013 high before closing out the regular session at $5.006, up 22.5 cents from Friday’s finish.

After three days of declines, natural gas futures bulls seized back control going into the weekend as the July contract closed on Friday at $4.781, up 13.4 cents from Thursday’s finish but 1.6 cents below last week’s close.

July natural gas futures retreated on Tuesday as the market shrugged off a day on the calendar that bulls in the recent past have used to start a rally. The prompt-month contract dropped 9.3 cents Tuesday to close at $4.248.