Natural Gas (NG1) Down 2.69%, Breaks Below 50 Day Average; Price Base in Formation Over Past 30 Days

Natural Gas Daily Price Recap

The back and forth price flow continues for Natural Gas, which started today off at 1.77 US dollars, down 2.69% ($0.049) from the day prior. Relative to other instruments in the energy commodity asset class, Natural Gas ranked 5th since the day prior in terms of percentage price change. Let’s take a look at the daily price chart of Natural Gas.

Natural Gas Technical Analysis

Moving average crossovers are always interesting, so let’s start there: 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. Or to view things another way, note that out of the past 30 days Natural Gas’s price has gone down 17 them.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Natural Gas for the past day were:

  • From moravec_tomas:

    @NOtoGMOs @ganikol @HomegrownJoan @PaulRoundy1 @Resourceful1942 @KollmarMartin @stuartsmyth66 @sideen_dan @KHefferon @Olivefarmer @muzhinjin @ekogaia @Synthon61 @peterdoodes @edrybicki @nick_saik @cybertenchi @robles_jdaniel @foodscibabe @TaraBarger @OrganicValley @fairlife @USDA @CFSTrueFood @adaptablefarmer @GMOFreeUSA @JodiKoberinski @kavn @US_FDA @GovCanHealth @GMWatch @thefoodbabe @thackerpd @EricLiptonNYT @nntaleb @normonics @DrKristieLeong @va_shiva @LeeCamp @LillyPad @RobynOBrienUSA @trevorcharles @Elanco @kenjaques @mbalter @cenkuygur @uniaoquimica @AugustaEDA @baumhedlund @food_democracy The crazies in EU want to achieve environmental goals by regulating breeding techniques instead of traits. Similarly they want to reduce climate destruction by replacing carbon-free nuclear with natural gas, coal, and wind (for which you need tremendous volumes of steel+concrete.

  • From Amardbi:

    @auto_kaka @ajeetdbi @SSukhmandra @ashwaniattrish @narendramodi @singharunbpcl @BPCLtd @dpradhanbjp @pankaj1966 @SANJEEVAHLAWA15 @Mmanjeetsinghs @ProutistUni @BJP4India @PMOIndia @PetroleumMin @drthakker9 @AbhijitOdisha @EpdfU @BPCLimited @HemantSirohi1 @PesoNagpur @MoPNG_eSeva @jsm_MOPNG @mygovindia @PMOIndia_RC @IndianOilcl @bpoa4us @savebpcl @DoC_GoI @DoPTGoI @HPCL The court also directed that a copy of this judgment be placed before the Ministry of Petroleum and Natural Gas and the board of directors of @BPCLimited so as to show how its officers are “unnecessarily harassing common citizens of this country for no valid reasons, whatsoever”.

  • From jrmkingston:

    Joe Biden adds banning the Keystone XL oil pipeline to his first 100 days as President to go along with him banning all domestic oil, natural gas & coal. If you’re voting for Biden, you better better have solar panels, windmills & a bicycle. He’s all in on the green new deal! 🤦🏿‍♂️

For a longer news piece related to NG1 that’s been generating discussion, check out:

Why U.S. Oil And Natural Gas Demand Will Rebound From Coronavirus

In fact, oil prices went to a ridiculous negative $40 just a few weeks ago on an extreme technical glitch in the way oil futures operate….U.S. oil demand has surely plunged from COVID-19….As for natural gas, fast becoming our most vital source of energy, perhaps the most telling sign of its competence is that demand through the first four months of this year has actually been higher than for the same period in 2019….Especially for gas, however, it’s true that exports are down a bit amid COVID-19 and could struggle through the summer, as low prices and demand globally make it harder to compete….For the U.S, that means: 1) stable but buoyantly very high oil demand, 2) much, much more natural gas, and 3) rapidly growing renewables, actually bolstered by natural gas that is both cheaper and more widely available than batteries to backup their intermittency….U.S. natural gas demand has risen about 45%, and the U.S. Department of Energy …