Yahoo Finance Natural Gas Price Analysis for September 26, 2017
Natural gas prices moved lower on Monday, dropping 1.35%, as Hurricane Maria is expected to move out into the Ocean sparing the production fields close to the U.S. mainland. Warmer than expected weather is expected to cover most of the United States for the next 8-14 days which should help buoy prices.
Momentum has Turned Negative
Natural gas sliced through support levels near an upward sloping trend line and is now poised to test the September lows near 2.88. Resistance on natural gas is seen near the 10-day moving average at 3.03. Momentum has turned negative as the MACD (moving average convergence divergence) index recently generated a crossover buy signal. This occurs as the spread (the 12-day moving average minus the 26-day moving average) crosses above the 9-day moving average of the spread. The index moved from negative to positive territory confirming the crossover sell signal.
This article was originally posted on FX Empire
