Welcome to Extreme Investor Network, where we provide you with unique and valuable information about the stock market, trading, and Wall Street. Today, let’s dive into the recent movements in the natural gas market.
The price of natural gas has been on the rise as traders react to recent reports. The latest data shows that the actual build in natural gas inventories was lower than both the five-year average build and the analyst consensus. This is seen as bullish for natural gas prices as lower supply usually leads to higher prices.
Weather forecasts are also playing a key role in the market. Demand for natural gas is expected to be high in the coming days, which is pushing prices up. However, there are concerns about mild weather in the longer term, which could reduce demand and put pressure on prices.
From a technical standpoint, natural gas is currently trying to rebound after a recent pullback caused by Hurricane Milton. The key level to watch is $2.40 – $2.45, as a successful break above this range could signal further upside potential. The next resistance level to watch is around $2.60 – $2.65.
To stay informed about all the economic events influencing the market, be sure to check out our economic calendar for a comprehensive overview.
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