NATGAS prices plunged more than 10% today due to the emergence of new weather forecasts, according to which temperatures are expected to be higher than usual at this time of year. Price is testing again the key support zone around $ 4.8. It is worth noting that the price should theoretically establish the final local seasonal high today.
It is worth remembering that the lowest temperatures last year were recorded in January and February, therefore prices may remain highly volatile. On the other hand, the recent crude oil sell-off and falling prices of other energy commodities support the gas retreat.
NATGAS, D1 interval. Source: xStation5