New 12-month High in Natural Gas Futures

Looking at the Weekly Natural Gas (NYMEX) chart below, a new 12-month high has been reached in Natural Gas Futures.   Although one may think from a Monthly Natural Gas chart that this high isn’t very high at all (see Monthly Natural Gas chart below) when in June of 2011 Natural Gas reached 4.983, the fact is that Natural Gas prices have been severely depressed for since fracking (hydraulic fracturing) that started a few years ago has greatly increased Natural Gas supplies and hence has depressed prices.

Therefore, for Natural Gas prices to reach the level of 4.550 we see in the March 2014 Daily Natural Gas chart below is actually a new high.  Prices haven’t been this high in over a year and therefore we will watch for a 1-2-3 top formation so we can short the Natural Gas Futures market.

Daily Natural Gas - March 2014

Monthly Natural Gas Weekly Natural Gas

Posted in Natural Gas and tagged , , , , , , , .

Leave a Reply

Your email address will not be published. Required fields are marked *