News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
More View more
Real Time News
  • Overall, Powell sticks with the current Fed stance and hence the move with the USD and UST yields higher, while gold tests 1700
  • #Gold is hitting fresh nine-month low in the aftermath of Fed Chair Powell's speech, falling to currently trade right around $1,700 for the first time since June of 2020. $XAU $GLD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.38%, while traders in Germany 30 are at opposite extremes with 70.84%. See the summary chart below and full details and charts on DailyFX:
  • $Silver testing confluent support, trendline + 23.6 fibo $SLV $XAG
  • $EURUSD tripping back down to the 1.2000 level on these Powell comments
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 5.61% Gold: -0.15% Silver: -0.56% View the performance of all markets via
  • $DXY US Dollar Index spiking to session highs on the back of this move in yields. $EURUSD tumbling down to the 1.2000-level.
  • The gold breakdown is now testing the first major hurdle at downtrend support early in the month and we’re on the lookout for possible inflection into this region. Get your $XAUUSD technical analysis from @MBForex here:
  • - Financial conditions are highly accommodative and that's appropriate
  • Powell reiterating remarks from other FOMC officials about recent bond market volatility, saying that the surge in yields has been 'notable and caught his eye.' US10YR jumping toward February's high around 1.55% now.
Natural Gas Prices May Fall Further on Warmer Weather, Technical Outlook

Natural Gas Prices May Fall Further on Warmer Weather, Technical Outlook

Thomas Westwater, Analyst

Natural Gas, Warmer U.S. Temperature Forecast, Technical Outlook – Talking Points

  • Natural gas prices see little relief in the near-term
  • Inventory levels remain elevated on annual basis
  • Prices in danger of piercing under 100-day SMA

Natural gas prices sank 9.43% last week as warmer temperature forecasting evaporated sentiment. Since November, natural gas prices are down almost 25%. The recent losses may extend if the next forecast doesn't give a bullish outlook for the heating gas. So far, temperatures have been above average across most of the United States since November.

NOAA 8-14 Day Outlook Temperature Probability

NOAA Weather Outlook Natural Gas

Source: NOAA

Given the bearish weather forecast, traders will need to look elsewhere for a fundamental driver on prices. One near-term catalyst may be inventory levels from the U.S. Energy Information Administration’s Weekly Natural Gas Storage Report.

However, with the warm weather as of late, a surprise inventory draw seems unlikely. Last week's report showed levels 43 Bcf higher compared to the same period in the prior year, according to the latest EIA report. This seemingly leaves both the supply and demand side for the energy commodity in a bearish stance.

EIA Natural Gas underground storage

U.S. EIA Natural Gas Inventory Graph


The technical setup may not provide much help for bulls. Last week, prices broke below the 20-day simple moving average (SMA) on Wednesday followed by a violent selloff Thursday, sinking 9.82%. Friday saw an intraday break below the 100-day SMA but prices managed to rally back and close out the session with a 2.71% gain.

The 100-day SMA may struggle to contain further downside, however, and momentum appears to be strengthening in that direction. In fact, the MACD line is accelerating away from its signal line, indicated by the falling MACD histogram. That makes natural gas futures appear primed for a second week of losses.

Building Confidence in Trading
Building Confidence in Trading
Recommended by Thomas Westwater
Don’t give into despair, make a game plan
Get My Guide

Natural Gas Daily Chart

Natural Gas Futures Chart

Chart created with TradingView


--- Written by Thomas Westwater, Analyst for

To contact Thomas, use the comments section below or @FxWestwateron Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.