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Thursday\u2019s bounce followed a sharp decline that took prices below the 50-day moving average ($3.811), touching $3.732 before reversing higher. The rebound encountered resistance near $3.924\u2014a key pivot level\u2014early Friday.<\/p>\n
If bulls can reclaim that level, a short-covering rally could extend toward $4.317. However, the downtrend suggests sellers will likely re-enter on rallies toward that resistance band.<\/p>\n
A failure to hold the 50-day moving average would expose $3.732 once again, and a break below that level could accelerate losses toward the next support zone at $3.350.<\/p>\n
The latest EIA report confirmed a 37 Bcf injection into storage for the week ending March 21, exceeding the consensus estimate of 33 Bcf and contrasting sharply with the five-year average draw of 31 Bcf.\u00a0Total working gas now stands at 1,744 Bcf, 6.5% below the five-year average and 24.2% below year-ago levels.<\/p>\n
While supplies remain tighter than historical norms, the larger-than-expected build reinforces the market\u2019s concerns about weaker heating demand and looser balances in the near term.<\/p>\n
Short-term weather forecasts show above-normal temperatures across the central and eastern U.S. from April 1\u20134, curbing late-season heating demand.<\/p>\n<\/div>\n
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[ad_1] Daily Natural GasThursday\u2019s bounce followed a sharp decline that took prices below the 50-day moving average ($3.811), touching $3.732 before reversing higher. The rebound encountered resistance near $3.924\u2014a key pivot level\u2014early Friday. If bulls can reclaim that level, a short-covering rally could extend toward $4.317. However, the downtrend suggests sellers will likely re-enter on rallies toward that resistance band. A failure to hold the 50-day moving average would expose $3.732 once again, and a break below that level could accelerate losses toward the next support zone at $3.350. EIA Storage Data Undermines Bullish Momentum The latest EIA report confirmed a 37 Bcf injection into storage for the week ending March 21, exceeding the consensus estimate of 33 Bcf and contrasting sharply with the five-year average draw of 31 Bcf.\u00a0Total working gas now stands at 1,744 Bcf, 6.5% below the five-year average and 24.2% below year-ago levels. While supplies remain tighter than historical norms, the larger-than-expected build reinforces the market\u2019s concerns about weaker heating demand and looser balances in the near term. Mild Weather Outlook and Weak Demand Cloud the Bullish Case Short-term weather forecasts show above-normal temperatures across the central and eastern U.S. from April 1\u20134, curbing late-season heating demand. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":40635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-40634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t