Natural Gas Price News
Natural Gas Price Outlook – Natural Gas Takes Off on Friday
Natural gas surged above $5 again on Friday, driven by unusually cold northeastern U.S. weather and rising demand. Pullbacks remain the preferred way to participate, with $5 now acting as a developing floor and potential upside toward $7.
Natural Gas Technical Analysis
Natural gas has broken higher during the trading session on Friday again, as we are now well above the $5 level. This is a market that is very slippery at times, and it is worth noting that we are getting an Arctic blast in the northeastern part of the United States over the weekend, which drives up demand. It’s actually been pretty cold for a few weeks. This time of year is generally cold, but it’s actually colder than usual. So, demand is up, price is up right along with it, as you would expect.
At this point, you have to have pullbacks to buy this market. That’s kind of been the game all along. And now I suspect that since we have broken above the $5 level and then pulled back below it and then broke above it again, all within about 48 hours, I think $5 is basically your floor. I said a few days ago that if we could break $5 and clean, then we could go as high as $7, like we did a while back, back during the winter of 2022. I think we’re about to make that move, actually. This was extraordinarily impressive. Normally, you get some type of significant pullback that you can take advantage of, and unfortunately, that’s what I’ve been waiting on, and it just never came.