Скачать или смотреть Natural Gas Price Analysis for January 2020 | Cold Weather Rebound?

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After reaching a 3 year low in 2019, will the natural gas price rebound in January? Cold weather and a drop in inventories has impacted natural gas trading but will it be enough to overturn the trend on the natural gas chart? Watch our natural gas analysis of the fundamental and technical factors impacting the natural gas price in January 2020.

The second week of 2020 saw natural gas move up, although the draw on inventories was actually smaller than market estimates. What pushed the natural gas price higher was the forecast for colder weather in North America in the next 8 to 14 days, something that usually precedes a longer period of cold.

On the technical side our natural gas chart analysis revealed the closest resistance to be around 2.17, while the nearest support is at 2.07. The tightening of these levels on both sides could mean less volatility for the natural gas price in January 2020. But any cold snap could change the natural gas price forecast to the upside, with the area around 2.30 looking like the next resistance with 2.45 a potential target for January.

As weather forecasts for February become clearer, natural gas prices could also drop but the 2.00 level could provide a solid support, as it hasn’t been breached quite a while.

Give us a thumbs up if you like our natural gas price analysis for January 2020 and make sure to subscribe to the capital.com channel for more natural gas price analysis and coverage!

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