Loading…
Natural gas broke out of a descending trend line and a short-term channel, and technical indicators showed overbought conditions. A report that coal plants were closing in West Virginia was cited as support for natural gas demand.
Traders also expected the Federal Reserve to hold rates steady for longer.
Technical signals point to a possible reversal, but the longer-term trend remains down. Coal-to-gas switching and easier monetary policy offer some support for prices.
fxdailyreport.comDaffa ZakyJan 14, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
