Back
13 Nov 2014
Natural Gas falls for the fourth-consecutive day
FXStreet (Mumbai) - Natural Gas prices declined for the fourth consecutive day as investors price-in the availability of enough supply to get through the winter.
Natural Gas for December delivery traded 1.89% lower at USD 4.106/mmbtu, compared to the previous session’s close of USD 4.185. As per the analysts at Morgan Stanley, “After last winter, it's no surprise that the market is quick to react to any sign of cold. However, we see limited upside from here without a pronounced change in the long-term winter forecast,".
Moreover, with gas production at record highs, supplies will be adequate to see through the winter.
Natural Gas Technical Levels
Natural Gas has an immediate support located at 4.10, under which prices can fall to 4.04 levels. On the flip side, resistance is seen at 4.178 and 4.184 levels.
Natural Gas for December delivery traded 1.89% lower at USD 4.106/mmbtu, compared to the previous session’s close of USD 4.185. As per the analysts at Morgan Stanley, “After last winter, it's no surprise that the market is quick to react to any sign of cold. However, we see limited upside from here without a pronounced change in the long-term winter forecast,".
Moreover, with gas production at record highs, supplies will be adequate to see through the winter.
Natural Gas Technical Levels
Natural Gas has an immediate support located at 4.10, under which prices can fall to 4.04 levels. On the flip side, resistance is seen at 4.178 and 4.184 levels.