Friday, 22 April 2011
Natural Gas Weekly Fundamental Analysis for April 25-29, 2011
April 25-29, 2011 commodities weekly forecast for natural gas using graphs and indicators.
Natural gas prices took an upside trend last week after the EIA report for natural gas inventories showed inventories rose below expectations, which put upside pressure on natural gas prices, while natural gas prices were also supported by rising demand from upper Midwest and Northwest due to cold weather conditions in addition to rising power demand in the South, which helped in pushing natural gas prices higher, as traders expect demand for heating and power plant fuel to rise.
Next week though we should expect prices to extend the gains fueled by expectations of higher demand, although we might witness a downside correction, although it shouldn’t change the short term trend to the upside.
Highlights for this week that will probably affect the Natural Gas direction are:
Thursday, 14:30:
The EIA will release the weekly natural gas storage change for the week ending April 22, where the prior report showed that natural gas inventories increased by 47 billion cubic feet.
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