Natural Gas Fundamental Analysis March 21, 2012, Forecast

By FXEmpire.com

Analysis and Recommendations:

Natural Gas is holding at 2.3340 staying with the forecast range of 2.32 -2.36, where it should be range bound for the rest of the season

Early withdrawal estimates for Thursday’s storage data range from a build of 7 billion cubic feet to 16 billion cubic feet, compared to the five-year average decline for the week of 17 billion. Last year, in the March 16 report, the EIA reported gas withdrawals of 20 billion cubic feet, followed by a 7 billion cubic feet injection the following week.

Natural Gas, should sit in this range with nothing else to do, there is a possibility of a decline if inventories are well over estimates.

Economic Events: (GMT)

WEEKLY

• Heating Oil & Propane Update (October-March)
  Heating Oil, Propane Residential and Wholesale Price Data
  Release Schedule: Wednesday at 1:00 p.m. EST
• Weekly Coal Production
  Release Schedule: Thursday by 5:00 p.m. EST
• Weekly NYMEX Coal Futures
  Release Schedule: Monday by 5:00 p.m. EST
• Natural Gas Weekly Update
  Release Schedule: Thursday between 2:00 and 2:30 p.m. (Eastern Time)
• Weekly Natural Gas Storage Report
  Release Schedule: Thursday at 10:30 (Eastern Time) (schedule)

Originally posted here