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Will Natural Gas Prices Hit Levels of $2.65 per MMBtu?

Natural Gas Prices Test 5-Month Lows despite Warm Weather Estimates

(Continued from Prior Part)

Price channel

Natural gas futures contracts for October delivery fell for five consecutive days and broke below the key the support level of $2.60 per MMBtu (British thermal units in millions) for the first time in the last five months. Prices have been trading within a narrow channel for the past three months. The rising natural gas stockpile is putting pressure on natural gas prices.

Support and resistance

The warm weather forecast and lower natural...