From Investing.com: 2024-12-20 05:37:00

Natural gas traders are feeling exhausted after U.S. President-elect Donald Trump’s comments. Trump insists the EU must buy U.S. oil and gas to offset their deficit or face tariffs. Despite the EU’s current natural gas stock levels, mild weather may dampen demand, leading to lower prices. The impact is evident on gas and oil prices with upcoming milder temperatures in Europe.

Technical analysis shows natural gas futures near major resistance at $3.859. A bullish crossover at $2.500 could provide support. However, resistance at current levels may trigger a selling spree. Potential support levels include $3.023, $2.680, and $2.838. Friday’s closing level will determine next week’s direction.

On the 4 Hr. chart, natural gas futures exhibit a bullish pattern with resistance at $3.652. A breakdown below the 9 DMA could lead to a steeper fall. Traders should exercise caution and create positions at their own risk. The future of natural gas prices remains uncertain amidst changing geopolitical dynamics.



Read more at Investing.com: Natural Gas: Trump’s Statements Likely to Extend Bearishness