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June Natural Gas Futures / Options news – DAW Trading – BrokersEDGE 4-24-18

Natural Gas (June)

Yesterday’s close: Settled at 2.775, up 0.008

Fundamentals: Natural Gas continues its long-dated consolidation as storage season nears. However, the uncertain weather patterns have kept both the bulls and bears from pressing bets. Analysts look to this week’s read as potentially the last draw of the season though this week’s weather might bring one last one on next week’s report. From there, the weather looks to become more seasonal. Down the road we expect a much hotter summer, one that should be a bullish catalyst.

Technicals: Price action has ping-ponged between 2.80 and 2.70 with today coming in the upper end of that range and facing major three-star resistance at 2.8169-2.837; a close above here is bullish and should lead to further gains. However, a failure should quickly open the door back down to support at 2.66-2.69.

Bias: Neutral

Resistance: 2.8169-2.837***

Support: 2.66-2.69** 2.486-2.532****

For more information please contact DAW Trading at brokersedge@dawtradingdiv.com or at 877-329-0006 and visit us at https://dawtradingdiv.com/brokers-edge/

 

 

Disclaimer:

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. DAW Trading (“DAW”) uses various outside sources for research material regarding futures and options on futures trading therefore the views and opinions expressed in this letter may not necessarily reflect the view of DAW or its staff. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to DAW.

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