|Day's Range||3.12 - 3.16|
On October 13, the US Energy Information Administration (or EIA) released its weekly US natural gas inventory report.
From October 9–16, 2017, our list of natural gas–weighted stocks fell 2.4% compared to a 4.0% rise in natural gas's (GASL) (GASX) November futures.
November natural gas (UGAZ)(DGAZ) futures contracts fell 1.13% to $2.96 per MMBtu (million British thermal units) in NYMEX electronic trading at 2:05 AM EST on October 16.
Gold The gold market showcased a bit of strength in the Monday’s session, as it hovered above the important $1300 level. The bullish sentiment in the market is likely to continue as the 24-hour exponential moving average is acting as a dynamic support. The next target for this market is $1325 level and is more likely … Continue reading Commodities Daily Forecast – October 17, 2017
Natural gas prices tumbled early in the session then rebounded later before closing lower as traders played a pair of key technical retracement levels. December Natural Gas settled at $3.108, down $0.052 or -1.65%. The catalyst behind the selling pressure were weather forecasts showing a return to mild weather after a cold spell in the … Continue reading Natural Gas Price Fundamental Daily Forecast – Bearish Specs Betting Warmer Weather Will Reduce Early-Winter Demand
December West Texas Intermediate crude oil futures rallied on Monday to its highest level since September 29, putting it in a position to challenge the last main top at $53.11. The catalyst behind the rally was a new Iraq conflict that threatens output. Iraqi forces moved on Sunday and Monday to take controls of oil … Continue reading Crude Oil Price Update – Actual Cut in Output Would Send Prices Soaring Through $53.11
December Comex High Grade Copper futures soared to their highest level on more than three-years on renewed optimism over China’s economic outlook. Prices in New York started higher early in the session after copper on the London Metal Exchange jumped 2.9 percent, touching an August 2014 high. The rally was primarily supported by upbeat economic … Continue reading Comex High Grade Copper Price Futures (HG) Technical Analysis – Rally Extends Over $3.2415, Weakens Under $3.2245
US dry natural gas production rose by 3 Bcf (billion cubic feet) per day to 75.9 Bcf per day in July 2017—compared with the previous month.
US natural gas (UNG)(DGAZ) futures contracts for November delivery rose 0.67% to $3 per MMBtu (million British thermal units) on October 13.
Natural gas prices whipsawed on Monday first moving lower and testing support and then rebounding higher but still closing down 1.50% on the session. After weeks of warmer than normal weather forecast by the National Oceanic Atmospheric Administration, the forecast is now for normal weather for most of the country, which allowed prices to gain … Continue reading Natural Gas Price Analysis for October 17, 2017
Renewable energy sources are only as reliable as the natural world that fuels them. A cloud passing overhead cuts off solar power; the wind stops blowing and windmills stop working. In order for us to depend on undependable power sources, we need a grid-sized backup to acts of God. In 2012, president Barack Obama’s energy…
Gold The gold prices initially went in a sideways direction but then exploded higher above the $1300 level after weak CPI data from the US hit the market. The break above this level is a positive sign for the market and if it breaks below then it has enough support at $1290 level and then at … Continue reading Commodities Daily Forecast – October 16, 2017
The Pound is certain to be a focal point in forex this week, as BoE Governor Mark Carney speaks tomorrow to the British Treasury. Gold remains near important resistance and Crude Oil has had geopolitical concerns emerge as the Kurdish independence question has sparked worries about oil production. GBP/USD: Carney Address Shadowing Pound The Pound … Continue reading Daily Market Forecast, October 16, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD
Natural gas futures gapped lower early Monday as investors reacted to the weather, the chart pattern and new data from the U.S. Commodity Futures Trading Commission (CFTC). At 0630 GMT, December Natural Gas futures were trading $3.133, down $0.027 or -0.85%. Traders are saying there should be enough fuel available to meet winter demand even … Continue reading Natural Gas Price Fundamental Daily Forecast – Rangebound Until Cold Weather Returns
Earlier in the Day: The markets responded to the softer than forecasted inflation figures and upbeat retail sales data out of the U.S, with Asian equities on the march through the session this morning, as sentiment towards the prospects of a December rate hike by the FED eased further, following the more dovish than expected … Continue reading Asian Equities Move Forward, with Yellen Delivering Dollar Support
Investing.com - Crude oil prices settled at a two-week high on Friday, as geopolitical uncertainty in the Middle East raised the threat of supply disruptions, particularly in the wake of U.S. President Donald Trump’s refusal to certify Iran’s compliance with the nuclear deal.
After struggling early in the week, U.S. natural gas futures mounted strong recovery late in the week to finish higher. Prices were supported by forecasts for rising heating demand and colder weather this winter than in the past two years. December Natural Gas settled the week at $3.160, up $0.114 or +3.74%. Traders also said … Continue reading Natural Gas Price Fundamental Weekly Forecast – Supported by Rising Heat Demand, Cold Weather
Gold futures finished the week on a high note amid concerns over U.S. inflation. The catalyst behind the rally on Friday was a lower-than-expected U.S. consumer inflation report. The price action indicates investors are worried about inflation’s impact on the pace of U.S. interest rate hikes by the Federal Reserve. December Comex Gold settled last … Continue reading Price of Gold Fundamental Weekly Forecast – Approaching Wall of Resistance at $1312.60 to $1324.40
Natural gas prices moved higher for the second consecutive trading session, and is poised to test target resistance despite warmer than normal weather that is forecast to cover most of the United States for the next 8-14 days according to the National Oceanic Atmospheric Administration. Prices recaptured the 3 handle and are poised to test … Continue reading Natural Gas Price Prediction for October 16, 2017
Oil prices moved higher on Friday, hitting a higher of 51.74, slightly shy of resistance near 52.05. Prices were buoyed by declining active rig counts and news that President Trump was going to de-certify the current Iranian nuclear deal. While refinery operations have rebounded from their post-Hurricane Harvey lows, they have still not recovered back … Continue reading Crude Oil Price Analysis for October 16, 2017
December E-mini Dow Jones Industrial Average futures are trading higher at the mid-session. The rally is being driven by earnings and low inflation. Today’s rally produced a record high and the current price has the Dow in a position to post a record close. The main trend is up according to the daily swing chart. … Continue reading E-mini Dow Jones Industrial Average (YM) Futures Analysis – Bullish Tone, but Still Vulnerable to Closing Price Reversal Top