Natural Gas Price Fundamental Weekly Forecast - Possible Gap

Natural Gas Price Fundamental Weekly Forecast - Possible Gap Opening; Strong Over $2.918, Weak Under $2.794


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Natural gas futures finished higher after gapping on the weekly chart. The rally was fueled early in the week by forecasts calling for fewer warmer-than-average days, but prices began to retreat after cold was put back into the forecast and the government storage report fell short of expectations.
The rally also fell short of the last main top at $2.750, but the support was strong enough to prevent a return to the most recent bottom at $2.268 hit the week-ending December 31. Helping to underpin prices was strong U.S. liquefied natural gas (LNG) exports and the potential for colder domestic temperatures later in the month and maybe into early February.

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