Natural Gas (NG1) Down $0.18 Over Past 4 Hours, Started Today Down 0.33%; Price Base in Formation Over Past 14 Days

Natural Gas 4 Hour Price Update

Updated September 10, 2020 12:50 AM GMT (08:50 PM EST)

2.4 was the closing price of the four-hour candle for Natural Gas, resulting in the current 4 hour candle being one in which price moved down 6.9% ($0.18) from the previous 4 hours. 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 previous 4 hours.

Natural Gas Daily Price Recap

Natural Gas closed yesterday down 0.33% ($0.01); this denotes the 2nd straight day it has gone down. Out of the 6 instruments in the energy commodity asset class, Natural Gas ended up ranking 5th for the day in terms of price change relative to yesterday. Below 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 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for Natural Gas has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. 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 down 8 of the previous 10 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

Over on Twitter, here were the top tweets about Natural Gas:

  • From uncommoncents70:

    @RobbotheKing2 @RonColeman @perfctlyGoodInk @walterolson When you say Biden is stable you lose all credibility. You couldn’t tell me what his stance on coal or natural gas will be in a week much less show me how that stance has been stable. It just depends who his audience is. So if by stable you mean consistent with pandering then 👍🏻

  • From moms4nuclear:

    @KamalaHarris @JoeBiden Nuclear workers are electrical workers & work hard to keep your power flowing in the most needed times – like when the sun sets in Cali during record heat waves, smoke, & natural gas shortages.
    We must value our reliable, carbon-free base load energy (nuclear’s our best hope).

  • From 1776Stonewall:

    Pennsylvania labor union, Boilmakers Local 154, based out of Pittsburgh, endorses President Trump. They represent over 2,500 active and retired energy workers. They mentioned Biden’s war on oil and natural gas and his proposed ban on fracking as reasons for the endorsement

In terms of news links for Natural Gas here’s one to try:

In Virginia battleground, natural gas pipeline projects face reversals | Energy | bayjournal.com

(Curtis Sheets) Citizens attending a meeting of Virginia’s State Water Control Board in August 2018 waved signs asking for pipeline permits to be revoked.  An aerial photo taken by a volunteer pilot shows construction of the Atlantic Coast Pipeline in West Virginia in 2018….Virginia residents who oppose the Mountain Valley Pipeline formed a circle to chant and sing during a State Water Control Board meeting on March 1, 2019, while the board deliberated the status of a permit for the project behind closed doors.  Lynn Godfrey, a resident of Chesapeake, VA, stands near the proposed site of the Gidley Compressor Station….“We remain committed to environmental stewardship and will focus on closing out the project with the least environmental disturbance possible.” An aerial photo taken by a volunteer pilot shows construction of the Atlantic Coast Pipeline in West Virginia in 2018….Virginia residents who oppose the Mountain Valley Pipeline formed a circle to chant and sing during a State Water Control Board meeting on March 1, 2019, while the board deliberated the status of a permit for the project behind closed doors.  “MVP has shown they can’t be trusted to build this pipeline anyway, and they should wise up and walk away from this risky bet like Duke and Dominion did with the ACP,” Joan Walker of the Sierra Club said in a statement….That company, Virginia Natural Gas, must show by the end of the year that it has firm financing to build the C4GT gas plant, which the HIP’s new pipeline would service….Finley-Brook said the recent decisions by Dominion, Duke and the SCC show that natural gas pipeline projects in Virginia are “overpriced, highly uncertain and in a regulatory limbo.” “The argument had always been that this stuff is cheap,” Finley-Brook said.


“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