March natural gas futures fell in moderate trading Wednesday as traders noted the market’s continued inability to reposition itself above the psychologically important $4 resistance level. At the closing bell March futures were 5.5 cents lower at $3.921 and April had lost 6.9 cents to $3.961. March crude oil posted a gain of 67 cents to $84.99/bbl.
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Bullish Storage Report Ignored; March Slides Below $4
March natural gas futures Thursday took the plunge below the psychologically important $4 support level and couldn’t recover, possibly dooming the market to a prolonged period of sub-$4 prices.
February 11, 2011
November Futures Fail At $5; Some Question October Expiration Glitch
At first it looked as though November futures were going to settle above the psychologically important $5 level, but the realization that the primary near-term market driver — forecasts of colder-than-normal weather — had been fully discounted was enough to pull the plug on prices.
October 7, 2009
Raymond James: Near-Term Gas Prices May Fall Until Cooler Temps Appear
Near-term, the potential for “psychologically driven” weakness in natural gas prices and energy stocks exists until signs of cooler winter temperatures appear sometime in October, said Raymond James analysts in their latest “Stat of the Week.”
September 8, 2003
Raymond James: Near-Term Gas Prices May Fall Until Cooler Temps Appear
Near-term, the potential for “psychologically driven” weakness in natural gas prices and energy stocks exists until signs of cooler winter temperatures appear sometime in October, said Raymond James analysts in their latest “Stat of the Week.”
September 3, 2003
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