With little in the way of fresh news on either the fundamentalor technical front, natural gas futures were left to limp lazilysideways Friday within a fairly tight 14.5-cent range. At theclosing bell, the December contract finished right about in themiddle, narrowly eking out at 1.1-cent gain to finish at $5.456.Activity was light as some traders observed the Veteran’s Dayholiday.
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For Bulls, Trend is Their Friend Thursday
With little in the way of fresh fundamental news Thursday,traders were forced to rely on technical factors, which continuedto steer them to the long side of the market. Since plumbing a$4.38 low three days ago, the prompt month has rallied 38 cents toclose at $4.76 yesterday.
Bulls vs. Bears: Call it a Tie Thursday
With little in the way of fresh fundamental news, natural gasfutures traded mostly sideways yesterday as traders rested after atumultuous 10 days of trading activity. A modest gain in the promptmonth was more than offset by losses in each of the out months.November finished up 0.5 cents at $4.664 while the 12-month stripclosed 1.6 cents lower at $4.313.
Futures Still See-Sawing Amid Bevy of Fundamental News
Led by local buying, natural gas futures spiked higher for thesecond time in three days Wednesday as traders positionedthemselves on the long side of the market, ahead of the release offresh hurricane and storage news. However, after posting a $4.79high minutes after 2:00 p.m. (EST), the September contract waspressured lower throughout the last hour of trading as locals tookprofits on their long holdings. The prompt month finished up 8.5cents at $4.605, near the lower end of Wednesday’s trading range.
Prices Soar on Pipe Outages, Storm, Futures Support
The cash market was doing a skyrocket imitation Monday amidsignificant fundamental influences, along with a large dose ofsupport from both natural gas and oil futures. Only a fewRockies/Pacific Northwest and Western Canada points failed to riseby about 20 cents or more (MRT and ANR ML-7 were among theexceptions elsewhere).
Futures Find Support at $3.80, Finish on Positive Note
With little in the way of fresh news on either the technical orfundamental front, natural gas prices took the path of leastresistance yesterday, slipping lower but settling above key supportat $3.80. After plumbing its lowest point in two months at $3.79shortly after 2 p.m. (EST), the August contract finished stronglyto settle at $3.86, down 2.4 cents on the day.
Perched Just Off Recent Highs, Futures Stall
With little in the way of technical or fundamental news, naturalgas futures were held to an extremely-tight, 4-cent range in quiettrade yesterday. By finishing at $2.949, the May contract was just0.1 cents below its opening price and 2.2 cents lower for the day.Estimated volume was thin, with only 31,720 contracts changinghands.
Prices a Little Higher Despite Weak Fundamentals
Other than moderately cooler weather in the West, traders couldfind little fundamental support for cash prices Wednesday yet stillmanaged to push them higher at most points by small amounts ofabout a nickel or less. Two or three Northeast points were the onlyones exhibiting slight softness.
Futures Struggle at End but Manage Small Gain to $2.70
Fresh off a neat, 13-cent gain Monday, the futures marketrumbled higher yesterday as fundamental traders braced for asizable storage withdrawal today and technicians set their sightson resistance levels from late last year.
Storage and Weather Conspire to Send Futures Higher
Fueled by the fundamental one-two of bullish storage and weathernews, the natural gas futures market rose Thursday as tradersunloaded shorts and added to longs. After dropping a dime lowerWednesday, the January contract opened higher at $2.53 Thursday andnever looked back as prices climbed into the mid-$2.60s. The promptmonth finished near its daily highs, up 15 cents to $2.636.