Natural Gas 4 Hour Price Update
Updated November 20, 2020 01:50 AM GMT (09:50 PM EST)
The back and forth price flow continues for Natural Gas, which started the current 4 hour candle off at 2.592 US dollars, down 4.42% ($0.12) from the last 4 hour candle. Those trading within the energy commodity asset class should know that Natural Gas was the worst performer in the class the current 4 hour candle.
Natural Gas Daily Price Recap
The choppiness in the recent daily price action of Natural Gas continues; to start today, it came in at a price of 2.592 US dollars, down 4.42% ($0.12) since the day prior. On a relative basis, Natural Gas was the worst performer out of all 6 of the assets in the energy commodity asset class today. Let’s take a look at the daily price chart of Natural Gas.
Natural Gas Technical Analysis
Notably, Natural Gas crossed below its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 30 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 down 17 of the previous 30 trading days.
“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram