The NG market was rather volatile this summer. In 3 months, the price won back its position, thereby recovering from $2,261 up to $3,227 and was fluctuating within the mentioned range since then. The fluctuations were regular and fairly predictable.
What prospects does the natural gas market have in store for speculators? will help us to answer this question…
Summer Session: Brief Outlook
According to , the market entered the summer session with a downtrend. May’s highs ($2,630-2,749) were followed by a downswing caused by substantial NG reserves and some other factors.
Early July was the period of relative stability. The price was mowing within the $2,793-2,919 range. The second part of the month showed a steady price rally from $2,782-2,802 up to $3,213-3,226.
August was a bearish months for the NG market. The price went from $2,889 down to $2,631.
Globally, NG prices were driven by the following factors:
· The USA discovered an efficient way of extracting shale gas, thereby oversupplying the market of Northern and Southern America.
· Lower NG prices stimulated industrial production.
· Natural and anthropogenic cataclysms also made the price go to and fro.
What To Expect Next?
The experts of assume that the most probable scenario for this fall is a movement within an ascending price range.
Market Leader and would appreciate if you could participate in a survey. Please, visit the Academy’s forum for traders and investors and answer the following question:
What is your near-term forecast for the NG market?
