Natural Gas Sharply Higher This Week

Natural Gas Futures--- Natural gas futures in the February contract are trading higher for the 2nd consecutive session hitting a 6 week high after settling last Friday in New York at 2.79 while currently trading at 3.12 up about 32 points for the trading week all based on a cold weather forecast ahead.

I have been recommending a bullish position from around the 2.78 level and if you took the trade place the stop loss which now has been raised to 2.74 and will remain at that level for another 5 trading sessions so you will have to accept the monetary risk at this time.

Natural gas prices are now trading above their 20 and 100 day moving average as the trend has turned positive as the volatility certainly has come to life as well and that is expected especially in the months of January and February.

This market will move on weather forecasts as we sold off last week on the warm weather & now have rallied this week due to a polar vortex possibly entering the Midwestern part of the United States so stay long & place the proper stop loss as the next major level of resistance is 3.20 & if that is broken I think we could retest the contract highs around 3.50 in the coming weeks ahead.

TREND: HIGHER

CHART STRUCTURE: SOLID

VOLATILITY---HIGH

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