Description
⋅ Timeframe: 1Hour
Strategy: Long
Technically
Natural gas price is forming a triangle pattern, suggesting a potential breakout. Traders watch for a decisive move.
As per the news
- Natural gas prices surged as colder US weather forecasts increased heating demand.
- Shutdown of a Texas LNG terminal unit limited exports, while lower US electricity output dampened demand.
- Weekly EIA reports showed a smaller-than-expected decline in inventories, indicating ample supplies.