MTECHTIPS;-Natural Gas Price Fundamental Weekly Forecast

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MTECHTIPS;-Natural Gas Price Fundamental Weekly Forecast

MTECHTIPS-Natural gas futures finished sharply lower last week. The price action was driven by the notion that despite the supply deficit, cooler temperatures and rising production will help tighten the storage deficit before the winter season begins in November. Besides the cooler weather forecast and record production, traders also responded to the release of a government report that showed a bigger-than-expected storage build. For the week, October Natural Gas futures settled at $2.776, down $0.140 or -4.80%. The market is also trading on the weak side of several technical entrancement zones. This is creating the downside momentum that could lead to a challenge of the next major support at $2.688

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