Natural Gas Prices Slide as Warmer Weather Forecasts Reduce Heating Demand
Natural gas prices dropped on Thursday following warmer-than-expected weather forecasts.
Warmer Weather Outlook Weighs on Natural Gas Demand
Forecasted temperature increases will reduce heating demand.
Expert Trading Tips and Analysis for Natural Gas, Gold, Silver, Crude Oil
- Natural Gas Trading Tips: Consider selling natural gas futures on rallies.
- Gold Trading Tips: Monitor gold prices for potential buy opportunities.
- Silver Trading Tips: Watch for breakout above $18.50.
- XAUUSD Trading Tips: Consider buying on dips.
- Crude Oil Trading Tips: Monitor oil supply concerns.
Key Market Data:
- Natural gas prices fell 3.2% to $2.455/mmBtu
- US natural gas stockpiles rose 64 billion cubic feet
- Weather forecasts predict warmer temperatures
Market Outlook:
The current market sentiment is bearish for natural gas.
H2: Technical Analysis: Natural Gas Prices
- Support levels: $2.35, $2.25
- Resistance levels: $2.55, $2.65
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