Natural Gas (NG1) Down $0.01 On 4 Hour Chart, Moves Up For the 5th Straight Day; Pin Bar Pattern Appearing on Chart

Natural Gas 4 Hour Price Update

Updated January 08, 2021 01:52 AM GMT (09:52 PM EST)

The back and forth price flow continues for Natural Gas, which started the current 4 hour candle off at 2.598 US dollars, down 0.23% ($0.01) from the last 4 hour candle. Out of the 6 instruments in the energy commodity asset class, Natural Gas ended up ranking 5th for the four-hour candle in terms of price change relative to the last 4 hour candle.

Natural Gas Daily Price Recap

Natural Gas closed the previous day up 0.48% ($0.01); this denotes the 5th straight day an upward move has occurred. Relative to other instruments in the energy commodity asset class, Natural Gas ranked 5th since the previous day in terms of percentage price change. Here is a daily price chart of Natural Gas.

NG1

Natural Gas Technical Analysis

Notably, the current price of Natural Gas is sitting close to its 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Natural Gas’s price has gone up 6 of the previous 10 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.