After weeks of flirting with the $6 resistance level, May natural gas futures finally broke it Monday, spending a majority of the day above May’s previous high of $5.99, which was set on April 1. The prompt month settled at $6.009, up 6.8 cents on the day, while trading within the $5.890-6.030 range.
Flirting
Articles from Flirting
Futures Fall Lower Amid Supply Glut
After flirting with new lows for much of the morning on Wednesday, natural gas futures made a break lower in the afternoon as traders continued their mass exodus of long positions on the news that the market was able to post yet another robust storage injection figure. The October contract limped off the board at $1.83, down 9.5 cents for the day and a whopping 56.3 cents less than where it was when it became the prompt contract a month ago.
September 27, 2001
Long-Range Storage Outlook Has Analyst Dubious of Declines
After flirting with key support at $5.00 throughout much of thesession, natural gas futures broke lower late yesterday after aprice-constructive storage withdrawal report failed to attract therequisite buying activity. The prompt April contract finished 9.5cents lower at $4.911. However, the real story was the out-months,many of which suffered double-digit setbacks. The 12-month stripclosed 10.3 cents lower at $5.091.
March 15, 2001
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