After thrice rebounding off stubborn support during the course of the past three weeks, natural gas futures finally broke beneath the $3.00-05 area yesterday as bears pressured the market lower with confidence that comes from having been there before. A gap lower open set tone of the trading session and bulls would never recover, watching almost helplessly as both August and September dropped to new 14-months lows and closed below $3.00. August finished at $2.939, down 14.8 cents and September more than kept pace, closing down 16.1 cents at $2.985.
Thrice
Articles from Thrice
Although Slight, Futures Uptick is Welcomed By Bulls
After thrice testing, but failing to break beneath support Thursday, natural gas futures rebounded at the New York Mercantile Exchange as traders put an end to a nine-day, 70-cent price slide. The June contract received the biggest buying boost, closing 4.4 cents higher at $4.527.
May 4, 2001
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