Natural gas breaks out – mind the gap – the united states natural gas etf, lp (nysearca_ung) _ seeking alpha

I spent a total of five years of my life living in London. Static electricity vocabulary words I went to school there during my final year of college, and I worked in the city from 1988-91 for a major commodity trading company. Electricity history timeline I often took the London underground to work, and I will always remember the recorded message as the train roared into the station. Npower gas price reduction The woman’s voice cautioned passengers to “mind the gap,” or the space between the train door and the subway tracks below.

As a commodities trader, my thoughts always turned to technical analysis or charts when I would hear that recording as gaps on price charts are always a treacherous sign of extreme volatility in markets. Bp gas prices nj While gaps can exist on price charts for long periods, prices tend to fill in the void left by a price gap.

Natural gas is a combustible commodity, and last week the price exploded higher. Grade 6 electricity unit test Natural gas has been making higher highs and higher lows since March when the price fell to the lowest level since 1998 on massive stockpiles and a warm winter season. Kd 7 electricity socks However, last Thursday the energy commodity climbed to a level that was more than 100% above the March lows when it traded to $3.366 per MMBtu after the Energy Information Administration released weekly inventory numbers. Electricity freedom system Natural gas put in a bullish key reversal trading pattern on the daily chart last Thursday. Gas unlimited houston texas The price traded just below the previous session lows and closed well above Wednesday’s highs. K gas constant On Friday it closed at the $3.28 per MMBtu level.

It has been a very profitable and exciting fall season for those with the fortitude to hold fight off the contango and hold long positions in the natural gas futures or ETF/ETN markets.

Click to enlarge As the daily chart of NYMEX natural gas futures highlights, the energy commodity has been making higher lows and higher highs since March. Gas monkey live Momentum and relative strength metrics continue to indicate an uptrend and open interest is rising with price. 93 gas near me All technical indicators are all-systems-go for this market that has blasted off over recent sessions. Electricity vs gasoline While the price of nearby natural gas futures is around $3.28 per MMBtu, deferred prices for this coming winter season are even higher.

Click to enlarge As the forward curve out to the winter months illustrates, natural gas is trading over $3.60 per MMBtu for the coming months for the first time in a very long time.

Click to enlarge In February of 2014, a frigid winter caused inventories to decline rapidly, and natural gas exploded to the highest level since December 2008. 3 main gas laws Then, in December of 2014, natural gas was still on its way down from highs of $6.493 per MMBtu. Electricity how it works The weekly chart shows that on its way lower, natural gas was in such a hurry that it left a gap on the chart from lows of $3.444 during the week of December 15 to highs of $3.351 the following week. K electric company Last Thursday, natural gas made its way into that gap for the first time since 2014 when it traded to highs of $3.3660. Bad gas 6 weeks pregnant It is highly likely that price action will fill this void on the weekly chart over coming weeks.

Click to enlarge As the weekly report shows, the EIA reported an increase of only 79 bcf. C gastronomie traiteur avis During the same week in 2015, the increase amounted to 97 bcf. Electricity water analogy animation Thus far in 2016 there has been a total of only 1.291 trillion cubic feet of gas that have flowed into stockpiles while in 2015 that number was at 2.27 tcf, over 43% higher. Gas cap light The price action after the report came out was as combustible as the commodity itself.

Click to enlarge As the 10-minute chart of the November NYMEX futures contract shows, a rally from $3.17 to $3.318 or a 4.7% transpired in just ten minutes on volume of 32,601 contracts. Gas key staking tool That move was the bulk of the daily trading range on Thursday.

Natural gas appears to be ready to fill the gap on the weekly chart dating back to December 2014. 76 gas station jobs If the price of the energy commodity can move above the top end of the gap and hold, it is entirely possible that we will see $4 on the active month natural gas futures contract in the weeks ahead. Electricity song omd After all, we are just coming into peak heating season across the United States, and only Mother Nature knows for sure how cold it will be this winter. Gas leak los angeles Last year the temperature was unusually warm, but there is no guaranty that the same will be true this year.

Natural gas seems to have everything going for it these days. Gas prices in texas 2015 The fundamentals are looking the best in quite some time, and the technical state of the market is bullish. Gas natural fenosa However, it may just be that the Presidential election is driving the price higher.

I have noticed that there has been a very high correlation between the rising polls for Hillary Clinton and the bullish moves in natural gas. M gasol I have been writing about this over recent weeks. Gas hydrates are used The Democratic platform contains environmental policy reforms for the energy industry and a Clinton administration, and Democratic Congress could mean that regulations will increase and the cost of producing natural gas, and other energy commodities, will increase dramatically. Gas prices going up to 5 dollars The latest rally in natural gas comes at a time when Clinton is rising in the polls, as are many Democratic candidates for Congress and the Senate in the United States.

Therefore, while inventories have been bullish this injection season and the technical picture for natural gas looks great, natural gas is likely reacting to the potential for a Democratic sweep on November 8. Electricity lesson plans year 6 Keep your eyes on natural gas, and the election polls next week. Electricity edison Additionally, don’t forget to mind the gap. Thitima electricity sound effect Sometimes, when price action returns and satisfies the conditions of a gap on charts, the market reverses and those holding positions can fall between the train and subway tracks. Electricity jokes riddles Be mindful of that gap and do not get crushed by a speeding reversal that can happen in the blink of an eye.

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I wrote this article myself, and it expresses my own opinions. Gas tax in texas I am not receiving compensation for it (other than from Seeking Alpha). J gastroenterol I have no business relationship with any company whose stock is mentioned in this article.