Technicals

Technicals, Weather Keep Buyers on Sidelines; July Drifts Lower

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.

June 21, 2011

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.

November 3, 2004

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.

November 3, 2004

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.

March 23, 2004

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.

March 22, 2004

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.

February 4, 2004

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.

November 11, 2003

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.

October 15, 2003

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.

October 8, 2003

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.

August 20, 2003
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