After faltering a couple of times earlier in the week, the general bearishness of weather fundamentals reasserted itself Friday. Even with their first prior-day futures support in more than a week, prices fell at nearly all points.
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Cold Weather Is the Driver of Cash Rally
Prices rallied at all points Wednesday from the prior day’s overall softness as widespread heating load reasserted itself as the driver of an upward-looking market. Forecasts of virtually no let-up in frigid temperatures, along with Wednesday’s screen advance of 21.1 cents, portend further cash gains Thursday.
December 8, 2005
Technically Speaking, Futures Should Continue Lower
Following a lackluster rally attempt last Thursday, bears in the natural gas pit reasserted themselves Friday, pressuring the spot month lower for the tenth time in the last eleven trading session. Buoyed by overnight short-covering, the June contract was fast out of the chute at the opening bell, as it broke above Thursday’s $4.55 high. However, the buying pressure dried up at about 10:00 A.M. (EST) leaving the market susceptible to a sell-off. At the closing bell, June was 3.7 cents lower at $4.490.
May 7, 2001
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