Natural Gas Fundamental Analysis Jan. 24, 2012, Forecast
Economic Events: (GMT)
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Analysis and Recommendations:
Natural Gas is the surprise of the day, at 2.5860 it is up 8.07%, this is the second day of increases after hitting the bottom on Thursday 2.32.
Chesapeake Energy announced a planned product cut until demand and prices had increased to make it economically profitable to produce.
Along with Crude Oil all commodities move up today and the weakness in the USD.
The high inventory and low price has been brought on the mild winter and the predictions of an early spring.
Natural Gas should reach a plateau and sit there. Most likely it has topped out its asking price for the rest of the season unless an unexpected cold front sets in.
Originally posted here
