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Natural Gas Technical Analysis
Natural gas markets continue to go somewhat sideways as the market is in the midst of consolidation and trying to sort out where to go next. After all, the trade war spat had people excited about natural gas, but this is the wrong time of year. I do, however, recognize that the United States is about to get a lot of cold weather in the next couple of weeks, but that should probably be it. So, at best, you’re looking at a short-term pop and then a major drop. This is a market that is very cyclical and most of the year, quite frankly, isn’t worth being bothered with.
You can see that like most years, you generally see as you go into spring, early summer, it’s basically flat, and then you’ll get a little bit of a boost sometime around mid to late summer if temperatures start to spike because natural gas, of course, is used to produce electricity for air conditioning as well in the northeastern part of the United States, but it does take extreme temperatures. And that’s the point. Natural gas is more than abundant. It’s not a rare resource by any stretch of imagination.
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