Natural Gas Futures--- Natural gas futures in the December contract are trading sharply lower for the 2nd consecutive session down another 8 points at 3.08 looking to fill the price gap in my opinion & as I've talked about in my previous blogs there is a price gap between 3.00/3.05 as I think that will be filled in the coming days ahead as I do not like gaps as they are generally filled within a short period of time.
Natural gas prices are trading right at their 20 day but below their 100 day moving average after hitting a 6 week high in Fridays trade as warmer weather in the Midwestern part of the country are putting pressure on prices here in the short-term as I am currently not involved, however I will be looking at a bullish position in the weeks ahead.
We are now starting to enter the extremely volatile winter season for natural gas as extremely cold temperatures can cause tremendous spikes in price and if you look at the monthly chart you will see some extraordinary moves to the upside in the months of December, January, and the month of February as I will not take a short position as the volatility will be to the upside not the downside so be patient & let the gap be filled which could happen in tomorrows trade.
CHART STRUCTURE: POOR
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