After failing to punch through last Wednesday’s high, natural gas futures traded mostly sideways Monday, as neither bull nor bear could influence prices. At the closing bell, the May contract was 0.3 cents weaker at $5.125.
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After trading within a wide, 58-cent trading range over the past10 trading days, November futures could barely eke out a nickelrange during the regular open-outcry session Tuesday, as traderselected to remain mostly on the sidelines ahead of fresh weatherand storage news expected this afternoon. The prompt month finisheddown 1.6 cents at $5.134 in a session that saw a scant 48,674contracts change hands.
The overall market continued to consolidate mostly flatpositions Tuesday in another session of quiet trading and fairlytight price ranges. The little bit of movement tended to beslightly to the downside. Once again traders gleaned little in theway of guidance from a stagnant futures screen or from mild weatherfundamentals. A couple of sources seemed resigned to finishing outthe rest of the week in a sideways market.