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Trading news
3 Nov 2014
Natural Gas gains for the fifth-day
FXStreet (Mumbai) - Natural gas rose for the fifth consecutive trading session as forecasts for cold weather is seen increasing the heating demand for the fuel.
Natural Gas for December delivery is trading 4% higher at USD 4.029/mmbtu. Prices have recovered from a low of USD 3.62 hit last week, as the markets started pricing-in a possible increase in the heating demand during the peak season of Winter.
Moreover, prices have gained since updated weather forecast models predict colder weather in parts of the U.S. over the next three weeks.
Natural Gas Technical levels
Natural gas has an immediate support at 3.955, under which the prices can fall to 3.84 levels On the other hand, resistance is seen at 4.049 and 4.064 levels.
Natural Gas for December delivery is trading 4% higher at USD 4.029/mmbtu. Prices have recovered from a low of USD 3.62 hit last week, as the markets started pricing-in a possible increase in the heating demand during the peak season of Winter.
Moreover, prices have gained since updated weather forecast models predict colder weather in parts of the U.S. over the next three weeks.
Natural Gas Technical levels
Natural gas has an immediate support at 3.955, under which the prices can fall to 3.84 levels On the other hand, resistance is seen at 4.049 and 4.064 levels.