Natural
Natural Gas Fundamental Analysis Jan. 31, 2012, Forecast

Natural Gas Fundamental Analysis Jan. 31, 2012, Forecast

Economic Events: (GMT)

WEEKLY

Analysis and Recommendations:

Natural Gas is currently down at 2.737 after hitting a high of 2.842. Today is a simple case of profit taking as NG has cascaded up for a week, moving from 2.32 to 2.84.

Prices rose in early trading and have maintained their current level industry weather group MDA EarthSat said Friday that it expected colder-than-normal weather throughout most of the U.S. east coast and southern states in the next 11-to-15 days.

Natural-gas prices have closely tracked weather forecasts in recent weeks. Colder-than-normal winter temperatures increase the need for gas-fired electricity to heat homes, bolstering demand for natural gas.

This is typically the coldest time in winter, but temperatures in the U.S. have yet to reach levels cold enough to boost demand for the heating fuel, keeping prices depressed at unseasonably low levels. 

Natural Gas Pivot Points (Time Frame: 1 Day)
 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
2.3393
2.4822
2.5723
2.7152
2.8053
2.9482
3.0383

Fibonacci
2.4822
2.5712
2.6262
2.7152
2.8042
2.8592
2.9482

Camarilla
2.5984
2.6198
2.6411
2.7152
2.6839
2.7052
2.7266

Woodie's
-
2.4690
2.5460
2.7020
2.7790
2.9350
-

DeMark's
-
-
2.7603
2.6926
2.5272
-
-