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Rafferty Offers Our Proprietary Technical Analysis and Commentary on Natural Gas in RigZone

Rafferty Commodities Group contributes our proprietary technical analysis and interpretation for RigZone, the leading online resource for news, data and events for the oil and gas industry. Today, we commented on Natural Gas, stating, our “Weekly natural gas chart shows the market trading in a sideways consolidation portion, which is formed by the horizontal support line at the 3978 area and the downward sloping line of resistance at the 4669 area. This pattern is the market’s way of taking a breather after a steep climb from the breakout on the week of October 5 at 3091. The breakout was confirmed a month later, on the week of November 9 at 3674. Most times, a consolidation pattern is a pause in the direction of the breakout. It would be a mistake for us to anticipate a breakout, so we will be patient and buy and sell against the listed support and resistance numbers. However, we will be fast to act if we can get a violation of prices above the sloping line of resistance or a break below the lower horizontal line of support on a closing basis. Learn more why the nation’s leading hedgers, traders and risk managers rely on Rafferty Commodities Group’s actionable intelligence every market day

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