• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 11, CICC commented on the US non-farm data. The team believes that the highlight of this time is the recovery of the service industry. The service industry has added 231,000 jobs, which has become the main driving force. Judging from the market reaction, the unexpected non-farm data has pushed the US Treasury bond interest rate and the US dollar to a new high, which is also in line with its judgment since the fourth quarter of last year: it believes that the US dollar is still strong and that interest rate cuts should be "done in reverse". When the interest rate cut is realized, it will be the low point of the US Treasury bond interest rate, rather than continuing to look at the recession and the starting point of the downward interest rate.German Geoscience Research Center GFZ: A 5.5-magnitude earthquake occurred in Ethiopia.On January 11, according to AFP, US President Biden condemned Metas plan to terminate its third-party fact-checking on the 10th, calling the decision "shameful." Biden told reporters at the White House, "This goes against everything America is about." It is reported that after Meta terminates its third-party fact-checking plan, it will switch to a user-written community annotation model. The plan will be implemented first in the United States, replacing the fact-checking service previously conducted by independent third parties.The Dow Jones Industrial Average closed at 41,938.45 on January 10 (Friday), down 696.75 points, or 1.63%. The S&P 500 closed at 5,827.04 on January 10 (Friday), down 91.21 points, or 1.54%. The Nasdaq Composite closed at 19,161.63 on January 10 (Friday), down 317.25 points, or 1.63%.According to CNN: U.S. President-elect Trump met with Meta Platforms (META.O) CEO Zuckerberg at Mar-a-Lago on Friday.

Natural Gas Price Forecast - Prices Rise on Report of Strong Inventory

Alina Haynes

May 13, 2022 10:39

Thursday marked the third consecutive trading session in which natural gas prices maintained their upward pace. The National Oceanic and Atmospheric Administration predicts that the weather will be warmer than average in the South for the next 6-10 days and 8-14 days. Northwest temperatures have been declining. Inventories increased over the past week.

 

Thursday's EIA Natural Gas Storage Report indicated that operational gas storage increased by 76 Bcf, from 1,567 Bcf to 1,643 Bcf. In the most recent week, natural gas inventories were anticipated to increase by 66 Bcf.

Technical Evaluation

Natural gas prices challenged the 10-day moving average near 7.766 on Thursday, continuing increases for the third consecutive session. Resistance is anticipated near the May highs, at $8.99.

 

As the fast stochastic generated a crossing buy signal, near-term momentum has turned positive. Nonetheless, momentum is diminishing.

 

Negative momentum has developed in the medium term. The MACD (moving average convergence divergence) signaled a sell crossover. This occurs when the MACD line (12-day moving average minus 26-day moving average) crosses beneath the MACD signal line (the 9-day moving average of the MACD line).

 

The MACD histogram is in negative territory and sloping downward, indicating that prices will decline.

 

image.png