Natural Gas Futures--- Natural gas futures in the December contract finished down 1 point at 3.54 in a nonvolatile trading manner this Thursday afternoon in New York after hitting a fresh yearly high in yesterday's trade all due to a cold weather forecast for 2019.
I was recommending a bullish position from around the 3.10 level, but that situation never occurred as I'm sitting on the sidelines, however I'm certainly not recommending any type of bearish position, but I don't like the price gap that was created on Monday between 3.31/3.43 as I think that will be filled so be patient as I'm still looking at a bullish position in the coming weeks ahead.
Natural gas prices are trading above their 20 and 100 day moving average as the trend really is to the upside as I still think there's a lot of room to run to the upside as strong demand has also supported prices in recent weeks. The energy sector has completely fallen out of bed over the last month except for natural gas as they can move in opposite directions as the chart structure and the risk/reward at this time are terrible in my opinion.
The volatility in natural gas has started to expand as it will become more violent during the winter months as you can have huge price spikes to the upside due to extremely cold weather as I still think there's a possibility that situation will occur, but that does not happen until the months of January and February.
CHART STRUCTURE: POOR
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