"Natural Gas Market: Supply Drop and Heating Demand Drive Price Surge"

1 min read
Source: FX Empire
"Natural Gas Market: Supply Drop and Heating Demand Drive Price Surge"
Photo: FX Empire
TL;DR

Natural gas pulled back from last week's high, testing support at the uptrend line, with a minor bullish indication. Demand picked up intraday, leading to a bounce to test resistance. Volatility is muted due to a U.S. bank holiday, with a possible doji close. A potential bearish double top reversal pattern has formed, with strong support expected at the 200-Day MA or higher. Despite some retracement, bullish indicators suggest natural gas may be ready to test recent highs after a period of consolidation.

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