Natural Gas Prices Surge in January

The NGc1 future contract is now going into the December 2016 resistance area at about 4 US$/ MMBTU. The corresponding Natural Gas monthly chart shows a current potent on volume monthly bar, which suggests a serious in-progress bullish event into the referred 4 US$ supply area.

Finally, note the solid the 2.7 US$/MMBTU support area, which was gathering demand since August 2016 and where several bottoming tales monthly bars removed supply from the 2.4 – 2.7 referred support area. This very solid support area, located at 2.7 US$, adds even more odds to the possible 4 US$ break-out technical event.

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