June natural gas futures continued to flounder Monday as traders see no upward momentum and look for a test of key psychological support. At the close June futures had fallen 8.1 cents to $4.154 and July had retreated 8.1 cents as well to $4.216. June crude oil, however, rocketed higher by $5.37 to $102.55/bbl.
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Bears Feel Tricked, Bulls Enjoy a Treat as Futures Break Above $4
Building off the December contract’s 12.7-cent gain during its first day in the limelight Thursday, traders pushed the front-month contract through the $4 psychological barrier on Friday to close at $4.038, tacking on another 14.8 cents in the process.
Futures Plunge Below $4 as Fundamentals Remain Weak
After pounding up against psychological support at $4 over the last few days, the September natural gas futures contract succeeded in breaking through in a big way on Wednesday with a low of $3.838 before closing the regular session at $3.871, down 16.8 cents from Tuesday’s finish.
Fourth Time’s a Charm for $5 Resistance Breakthrough
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.
Moderating Weather Forecasts Weigh on Futures; March Slips 11.7 Cents
One day after breaking below psychological support at $5, March futures values on Tuesday notched their fourth consecutive day lower, leaving market watchers wondering what would be in store for the contract’s expiration on Wednesday. The prompt-month contract reached a low of $4.773 before closing Tuesday’s regular session at $4.778, down 11.7 cents from Monday’s finish. With that, the contract has plummeted 66.8 cents over the last four regular sessions.
Moderating Weather Forecasts Weigh on Futures; March Slips 11.7 Cents
One day after breaking below psychological support at $5, March futures values on Tuesday notched their fourth consecutive day lower, leaving market watchers wondering what would be in store for the contract’s expiration on Wednesday. The prompt-month contract reached a low of $4.773 before closing Tuesday’s regular session at $4.778, down 11.7 cents from Monday’s finish. With that, the contract has plummeted 66.8 cents over the last four regular sessions.
Futures Break Below $5 as Winter Hourglass Nears Empty
Front-month natural gas futures on Monday broke below psychological support at $5 for the first time since early December as traders see the winter season ticking to a close.
Futures Break Below $5 as Winter Hourglass Nears Empty
Front-month natural gas futures on Monday broke below psychological support at $5 for the first time since early December as traders see the winter season ticking to a close.
Futures Looking to Retest $5 Resistance?
Natural gas futures on Monday geared up for another run at psychological resistance at $5 as the November contract recorded a high on the day of $4.916 before closing at $4.835, up 5.4 cents from Friday’s regular session close.
Futures Rebound; Traders Eye ‘Out of Line’ Oct.-Nov. Spread
Coming off last week’s 43.4-cent decline, which broke the psychological $3 support line and notched a seven-year low, September natural gas futures underwent a little bit of a corrective action on Monday as the prompt-month contract regained 11.9 cents to close out the regular session at $2.923.