July natural gas eased slightly Monday as traders cited weak technicals, and near term weather forecasts are unsupportive. At the close July had fallen eight-tenths of a penny to $4.317 and August was down eight-tenths of a penny to $4.352. July crude oil rose 25 cents to $93.26/bbl.
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Futures Fall on Technicals, Petroleum Sympathy
Trading on technical factors and influence from the liquid hydrocarbons, December natural gas futures explored lower on Tuesday. The prompt month notched a low on the day of $8.46 before settling at $8.567, down 15.3 cents on the session.
Futures Fall on Technicals, Petroleum Sympathy
Trading on technical factors and influence from the liquid hydrocarbons, December natural gas futures explored lower on Tuesday. The prompt month notched a low on the day of $8.46 before settling at $8.567, down 15.3 cents on the session.
Futures Dip on Weak Crude, Technicals; Bulls Find Solace in Storage Estimates
Pressured by weakness in the Sunday night Access trading session, the natural gas futures market turned lower Monday in sympathy with losses in the crude oil market and amid bearish short-term technical factors. However, chilly temperatures and stronger Northeast cash prices was enough to slow the downside momentum, leaving the April market with a modest 3.6-cent decline and $5.546 close.
Futures Slip Slightly as Bullish Weather and Bearish Technicals Set to Square Off
Despite fresh forecasts suggesting this summer could be a hot one, the natural gas futures market turned lower Friday as traders took profits after failing to break above stubborn overhead resistance.
Futures Rally Again on Weather; Technicals Remain Negative
Buoyed by forecasts suggesting February may be just as cold as January, the natural gas futures market notched a second straight daily advance Tuesday as traders continued to eschew the short side of the ledger. However, the market remains in a state of flux technically, prompting some observers to believe the market will have a difficult time rebounding from current levels to post new highs.
Conflicting Weather Forecasts Stump Traders; Technicals Turning Up
After opening lower in sympathy with weaker cash prices, the natural gas futures market worked its way back to unchanged Monday as traders groped for fair value amid contrasting weather outlooks.
Technicals Dominate As the Market Waits for Winter
Though it opened and closed at almost the same level, the natural gas futures market was anything but a kiddie’s ride Tuesday as waves of buying and selling led prices on a roller coaster of trading activity.
Futures Advance 5% on Fund Buying and Bullish Technicals
In reaction to mounting bullish pressure and in agreement with its seasonal tendency to rally in October, the natural gas futures market soared Tuesday amid waves of managed fund short-covering.
Futures Shuffle Higher on Technical Buying; Storage Likely to Be Bearish
Buoyed by market psychology and supportive technicals, the natural gas futures market continued higher Tuesday as buyers spent another session quietly consolidating last week’s significant sell-off. The September contract received the biggest buying boost, climbing off its $4.87 afternoon low to rally in the last hour of trading. It finished at $4.964, up 8.1 cents for the session. At 53,447, estimated volume signified another light trading session at Nymex.