From Investing.com: 2024-12-10 02:11:00

Natural gas futures started the week strong due to cold weather forecasts, but selling pressure has taken over. Traders are uncertain if supply stability and high January demand will counter bearish momentum. Technical indicators show potential for volatility. Short-term support at $3.124, with resistance at $3.186. Inventory report on Thursday will be crucial.

Daily chart analysis shows heavy selling pressure on natural gas futures. Bearish candlestick pattern and downward cross of moving averages suggest continued volatility. Closing level today will set the tone for the week. Weekly outlook highlights resistance at $3.276 and critical support at $3.093. Breakdown below $2.921 could lead to further downside.

Traders are facing a volatile week with conflicting factors influencing natural gas futures. Inventory data on Thursday and today’s closing price will determine the next move. Readers are advised to trade at their own risk as the analysis is based on observations only, with the author holding no position in natural gas.



Read more at Investing.com: Natural Gas: Can Cold Weather, Production Cuts Offset Selling Pressure?