Previously 73
Natural gas prices are initially rising on the lower storage number.
The Natural gas storage numbers spike as the winter approaches, then falls as the winter comes to a close. The peak this year (see chart below) has been lower than the past 3 years. Does it mean higher prices going forward?
Of course much depends on the demand (which means the weather). However, looking at the price of Natural gas, the price is relatively low. The price is trading below the 100 day MA at the 2.846 level currently. A move above that level, would turn the technical bias more bullish technically.
