# Natural Gas ETFs Break Out From Falling Wedge

> Natural gas ETFs broke out of a falling wedge pattern despite US gas storage sitting below its five-year average. Large storage builds were expected through late May, and prices were supported by forecasts of hotter weather in the South. Analysts said the market appears well supplied in the intermediate term.

- Date: 2019-05-02 · published 2019-05-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/59272-natural-gas-etfs-break-out-from-falling-wedge
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Technical breakouts can attract short-term buying, but large storage builds and ample production limit upside. Weather forecasts remain the main near-term driver of gas prices.

## Read by commodity

- NATGAS: neutral

## Sources

- investopedia.com: https://www.investopedia.com/natural-gas-etfs-break-out-from-falling-wedge-4686122

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.