By FXEmpire.com - Analysis and Recommendations:
Natural Gas is up in today’s session adding to gains on Friday to trade at 2.346 adding +0.20. With the end of winter a week away and ample supply in inventories, NG has been seeking a bottom, which should be between the 2.32 and the 2.36 level, where it was trading before investors pushed the price up a couple of week ago.
With the price at all time lows many companies are stopping or reducing production, without the need for NG over the winter, there is more than enough available. NG needs to find new sources to use the supply, as production continues to increase but demand does not keep pace. Although with its low costs and easy availability, it will eventually begin to replace coal and nuclear power. But until demand increases or winter returns, NG will dwell about here.
Economic Events: (GMT)
- Heating Oil & Propane Update (October-March)
Heating Oil, Propane Residential and Wholesale Price Data
Release Schedule: Wednesday at 1:00 p.m. EST
Release Schedule: Thursday by 5:00 p.m. EST
Release Schedule: Monday by 5:00 p.m. EST
Release Schedule: Thursday between 2:00 and 2:30 p.m. (Eastern Time)
Release Schedule: Thursday at 10:30 (Eastern Time) (schedule)
[Original Post Here]