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Natural Gas Price Prediction

    • 2108 posts
    January 19, 2021 1:07 PM EST
    Natural gas prices moved higher on Tuesday despite a normal to warmer
    than normal weather forecast that will not likely help demand. Prices
    appear to be moving higher in sympathy with oil prices. On Thursday, the
    Energy Department will release its inventory report. Expectations are
    for a 131 Bcf draw in stockpiles according to survey provider Estimize.
    U.S. LNG exports declined week over week.To get more news about WikiFX, you can visit wikifx official website.



      Technical Analysis



      Natural gas prices moved higher on Tuesday but closed off the
    highs of the trading session. Prices recapture resistance, which is now
    support near the 50-day moving average at 2.77. Resistance is seen near
    the late November highs near 2.98. Medium-term momentum remains positive
    as the MACD (moving average convergence divergence) histogram prints in
    the black with an upward sloping trajectory which points to higher
    prices. The RSI also broke out hitting the highest level since October
    which reflects accelerating positive momentum.



      LNG Exports Decline



      U.S. LNG exports decrease week over week. According to the EIA,
    Twenty one LNG vessels with a combined LNG-carrying capacity of 77 Bcf
    departed the United States between December 31, 2020 and January 6,
    2021.