April 25th 2024 – The price of natural gas is now exhibiting a positive short-term trend reports Trend Intelligence, this even as price action fell close to 8% in yesterday’s trading and settled near to $2.
Trend’s Analysis (click chart to expand): Trend’s M* Momentum Indicator creates a clear visual representation of price trends in play across asset classes and financial instruments. In our natural gas chart, Trend Intelligence reports increasing M* and M* Signal lines, with both indicators now trending up above the critical zero line. This is, and has shown over time to be, a positive trend signal.
In addition to the M* indicator, price currently trades above 2 of Trend’s moving averages (short-term and medium-term).
The combination of the aforementioned signals corroborate Trend’s positive short-term trend rating on natural gas, looking positive for future weeks ahead.
Downside Sentiment: A warmer than usual winter and a large global oversupply suggests that prices will remain low long into the future, reports Morgan Stanley courtesy of CNBC News.
Upside Sentiment: Natural Gas prices will continue to be supported from the unrest in the Middle East, where global shipping is under attack from Houthi rebels in Yemen, reports Reuters News.
Authored by: Trend Intelligence, London
