Energy Insider Blog

Bulls And Bears Fight It Out

Posted by Acclaim Energy on Oct 5, 2012 3:19:00 PM

Moderating weather forecasts seem to be limiting the upside after EIA’s release of an injection number that was slightly above analysts’ estimates. Natural gas is currently consolidating around the sticky $3.40/MMbtu level. It is worth mentioning though that supplies are getting close to a record high. Under current fundamentals the front month is starting to feel a bit heavy.

Technically, we are still in overbought territory.

Click here to see the Daily NYMEX Report.

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