Notching

Following a small rebound in values on Friday, April natural gas futures on Monday resumed the recent downtrend, notching a low of $4.036 before closing out the regular session at $4.079, down 9 cents from Friday’s finish.

Following a small rebound in values on Friday, April natural gas futures on Monday resumed the recent downtrend, notching a low of $4.036 before closing out the regular session at $4.079, down 9 cents from Friday’s finish.

May natural gas futures tested lower price levels in Wednesday morning trade before rebounding in a big way during the afternoon. After notching a $9.400 low, the prompt-month contract soared to a $9.950 high before closing out the day at $9.832, up 10.8 cents from Tuesday. May crude also rebounded Wednesday, gaining $3.85 to close at $104.83/bbl.

After exploring the upside in morning trade and notching a $7.720 high, November natural gas futures collapsed in the afternoon, recording a low of $7.060 before expiring at $7.153, down 34.4 cents on the day and 8.8 cents lower for the week. December natural gas, now the front month contract, closed Friday 24 cents lower at $7.827.

June natural gas futures on Tuesday wavered on price direction in early trading, but finally resolved to trade somewhat higher. After notching a low of $6.600 just after 11 a.m. EDT, the prompt month inched upward in the afternoon to record a high of $6.870 before closing at $6.746, up 5.1 cents on the day.

Going out on a weak note, May natural gas futures went off the board Wednesday after completing its fifth consecutive trading day of lower settles. After notching a low of $7.000, May expired at $7.198, down 5.6 cents on the day.

Despite trading negative for a vast majority of the day, November natural gas futures made a late run Friday to finish in the positive. After notching a low of $12.760 earlier in the session, the prompt month ended up settling at $13.219, up 11.6 cents on the day, but less than a penny lower than the previous Friday’s $13.226 settle.

After notching a brand new record prompt-month high at $14.75 in trading on Wednesday morning, November natural gas ended up retreating for the rest of the session, giving some traders the impression that a key reversal could be in the works. The prompt month ended up settling at $14.183, down 4.1 cents from Tuesday.

Due in part to the arrival of new storm activity in the Atlantic Basin, September natural gas on Monday was off to the races, notching a high of $9.84 two separate times just before 1 p.m. EDT. However, the prompt month was unable to match its $9.91 high from two weeks ago and trailed off later in the afternoon.