(Last Updated March 16, 2021)
Hello! This is the news page for Natural Gas. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
On NG1, there is currently a downtrend on the 30 and 14 day timeframes.
NG1’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bearish, implying a downward trend, aside from a rally about 6 months prior. Moreover, today we saw the 50 moving average turn bearish.
Below is a chart showing NG1’s price with its moving averages.
At the moment, NG1’s price is down $-0.12 (-4.46%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as NG1 has now gone down 4 of the past 5 weeks. Regarding the trend, note that the strongest trend exists on the 5 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. NG1’s weekly price action over the past 52 weeks can be seen via the chart below.
Price action traders in particular will want to note that the 90 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 16 of the previous 30 trading days.
Price action traders in particular will want to note that the 90 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 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
On a relative basis, natural gas was the worst performer out of all 6 of the assets in the energy commodity asset class today.
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.