X
<

Natural Gas: Will the Bullish Sentiment Continue?

PART:
1 2 3
Natural Gas: Will the Bullish Sentiment Continue? PART 1 OF 3

Natural Gas: Will the Bullish Sentiment Continue?

Natural gas

On November 8, 2017, natural gas (UNG) (BOIL) December futures rose 0.7% and closed at $3.18 per MMBtu (million British thermal unit). The bullish weather forecast report could be helping natural gas prices rise.

Natural Gas: Will the Bullish Sentiment Continue?

Interested in DJIA-INDEX? Don't miss the next report.

Receive e-mail alerts for new research on DJIA-INDEX

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

Between November 1 and November 8, 2017, natural gas futures rose 9.7%. Over this period, the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA) rose 0.6% and 0.5%, respectively. More than the rise in natural gas prices, a 4.6% rise in US crude oil (USO) futures could have helped these equity indexes.

In the next part, we’ll see how oil prices could pose a threat to the rise in natural gas. In Part 3, we’ll try to understand the impact of natural gas inventories on natural gas prices.

Moving averages

On November 8, 2017, natural gas active futures were 7.8%, 7.1%, 7.6%, and 5.2% above their 20-day, 50-day, 100-day, and 200-day moving averages, respectively. But the 50-day moving average was 1.7% below the 200-day moving average. So natural gas prices may not be out of the woods.

X

Please select a profession that best describes you: