Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Dear Futures Trader,
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The natural gas market
has seen volatility increase sharply over the past 8 weeks. Once it broke above 4.65 in early September, the market ventured into new territory with heightened volatility.
Notice how the front, Dec. contract bounced sharply off the major support/demand area at 4.70 and is now trading against the major supply area ( red line / moving average) at 5.44.
This market can go either way and do it relatively fast. Weather, supply chain news will determine next move.
A close above 5.44 can trigger retest of $6. Failure at the same level can send market towards the 4.65.
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Tags: Daily Chart of Natural Gas > Natural gas > Natural Gas Daily Chart > Natural Gas market > Natural Gas Storage > Natural Gas Storage Reports > Seasonal Tendencies > Seasonal Trade Idea > Seasonality in Futures Trading > Seasonals in Futures Trading > Unleaded Gasoline Chart
Posted in: Future Trading News | futures trading education | Natural Gas