Natural Gas (NG1) Down $0.03 On 4 Hour Chart, Entered Today Down For the 2nd Day In A Row; Price Base in Formation Over Past 90 Days

Natural Gas 4 Hour Price Update

Updated August 03, 2020 07:09 AM GMT (03:09 AM EST)

Natural Gas came into the current 4 hour candle down 1.63% ($0.03) from the open of the previous 4 hours, marking the 2nd candle in a row a decline has happened. 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 came into today down 1.63% ($0.03) from the open of yesterday, marking the 2nd day in a row a decline has happened. 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. Let’s take a look at the daily price chart of Natural Gas.

NG1

Natural Gas Technical Analysis

Notably, Natural Gas is now close to its 20 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 8 out of the past 14 days.

Overheard on Twitter

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

  • From TonyTbriggs:

    @Harold_Steves SiteC was pushed through 4 Christy Clarks pet project LNG. When U add the dam,& transmission lines, the taxpayer subsidies 2 LNG Canada, & the reduction of natural gas royalties 2 nothing, BC taxpayers R in the hole big time!!! & John Horgan picked up this bad deal & ran with it!

  • From Joshua37898:

    @FullyChargedDan 5. Tesla Model 3=(EPA) 322 miles, Toyota Mirai= 312Miles
    6. Tesla Model 3= 1,726 to 1,847 kg Toyota Mirai= 1,848 kg
    7. You need to make the hydrogen though natural gas or very inefficient electrolysis (20-30% efficient)
    8. Releases water vapour acts like a greenhouse gas.

  • From jamft:

    Rail is a crappy way to move oil and natural gas, but a great way to move coal, wheat, potash, sulphur, and intermodal.Pipelines are a crappy way to move coal, wheat, potash, sulphur, and intermodal, but a great way to move oil and natural gas.

As for a news story related to Natural Gas getting some buzz:

New Perovskite Solar Cell Another Nail In Natural Gas Coffin

This new perovskite solar cell research should send natural gas stakeholders running for the hills (photo cropped, via UC-San Diego Jacobs School of Engineering)….The cost of solar power has already fallen off a cliff, primarily due to improvements in silicon solar cell technology and manufacturing, as well as improvements all up and down the silicon solar cell value chain….Now that some of the kinks have been worked out, researchers are focusing on boosting solar cell conversion efficiency while chopping away at manufacturing costs….Here in the US, the Energy Department is also bent on driving down solar cell manufacturing costs….Photo (cropped): “Single-crystal perovskite films could enable more efficient flexible solar cells such as the one pictured here,” courtesy of Jacob School of Engineering, UC-San Diego. 
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