5-minute Intraday
Daily Continuation
The Henry Hub front month futures contract traded down ~0.10 on the slightly lower than forecast EIA stock level. After a short period of sideways choppy trading it continued lower to horizontal support associated with Mon low, from which it traded higher the remainder of the day, to close only slightly lower than Wed's close. In the big picture, natgas is well entrenched in current range trade - with very little regard to the volatility in rest of the energy complex, regional or global economies, equities and foreign exchange markets. Expect prices to range within the declining channel, with downside trend being the dominate skew.
Daily ContinuationThe Henry Hub front month futures contract traded down ~0.10 on the slightly lower than forecast EIA stock level. After a short period of sideways choppy trading it continued lower to horizontal support associated with Mon low, from which it traded higher the remainder of the day, to close only slightly lower than Wed's close. In the big picture, natgas is well entrenched in current range trade - with very little regard to the volatility in rest of the energy complex, regional or global economies, equities and foreign exchange markets. Expect prices to range within the declining channel, with downside trend being the dominate skew.