Natural Gas (NG1) Up $0.22 On 4 Hour Chart, Entered Today Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

Natural Gas 4 Hour Price Update

Updated July 01, 2020 12:54 AM GMT (08:54 PM EST)

Natural Gas is up 14.78% ($0.22) since the previous 4 hours, marking the 2nd candle in a row an increase has occurred. Natural Gas outperformed all 6 assets in the energy commodity asset class since the previous 4 hours. Congrats to its holders!

Natural Gas Daily Price Recap

Natural Gas closed the day prior up 0.47% ($0.01); this denotes the 3rd day in a row an increase has occurred. Out of the 6 instruments in the energy commodity asset class, Natural Gas ended up ranking 4th for the day in terms of price change relative to the day prior. Here is a daily price chart of Natural Gas.

Natural Gas Technical Analysis

The first thing we should note is that Natural Gas is now close to its 20 and 50 day averages, located at 1.69 and 1.77 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 15 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

Behold! Here are the top tweets related to Natural Gas:

  • From kentuckyliz:

    @adeleshiv @McAuleyATL Guess what–natural gas prices killed coal. We have solar panel complexes popping up around the state–you can see a big one near Winchester next to I-64. I work at a tech college in east KY coal country and our electricity students take solar/wind tech training too.

  • From FoxForceFlacco:

    @justin_fenton @janders5 Have to say I don’t love the story’s characterization of John Arnold simply as a philanthropist. He’s more notably a former hedge fund manager and natural gas trader who was deeply involved in the Enron scandal. Philanthropist just makes him sound like a kindly chap

  • From Corpus_DSA:

    Reminders about Nueces County Judge Barbara Canales:
    – She has a degree in Petro Engineering
    – She’s co-owner of an independent oil & gas exploration & production company active in the development of natural gas reserves in South TX
    – She was an officer of the Port Commission

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

EGEB: The US’ No 2 natural gas producer files for bankruptcy – Electrek

Low oil and gas prices made it difficult for the company to repay its debt….In 2020, 18 oil-and-gas companies have already defaulted on their debt to date….Electrek’s Take: This is how these big fossil-fuel companies often roll.