(Last Updated April 15, 2021)
Welcome to the news page for Natural Gas (NG1). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
On Natural Gas, there is currently a clear downtrend on the 30 day timeframe.
The moving averages on NG1 summarize its price action in an interesting way. The 20 and 200 day averages suggest a bullish trend, as they are pointing upwards, while the 50 and 100 day averages are pointing downward, suggesting a bearish trend on those timeframes. Moreover, today we saw the 100 moving average turn bearish.
The chart below illustrates.
At the time of this writing, NG1’s price is up $0.09 (3.64%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows NG1’s price action over the past year.
Out of the 6 instruments in the energy commodity asset class, natural gas ended up ranking 2nd for the day in terms of price change relative to the previous day.
Those trading within the energy commodity asset class should know that natural gas was the worst performer in the class today.
Natural gas outperformed all 6 assets in the energy commodity asset class since the day prior.
Or to view things another way, note that out of the past 30 days natural gas’s price has gone up 17 them.
For another vantage point, consider that natural gas’s price has gone up 16 of the previous 30 trading days.
Those trading within the energy commodity asset class should know that natural gas was the worst performer in the class today.
On a relative basis, natural gas was the worst performer out of all 6 of the assets in the energy commodity asset class today.
Relative to other instruments in the energy commodity asset class, natural gas ranked 2nd since yesterday in terms of percentage price change.
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.
Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.