Weekly

Weekly Commodity Outlook:


HIGHLIGHTS: Change in Weather Model Send Natural gas Prices Below $2.00: Natural gas prices tumbled lower on Friday breaking down and closing below trend line support. Prices dropped nearly 9% on the week, as colder than normal weather quickly faded. The EIA reports that production will exceed consumption in 2020, and put further downward pressure on prices. The weather is expected to become warmer than normal over the next 6-10 days and then to moderate but remain warmer than normal over the next 8-14 days. Demand declined in the latest week driven by a contraction in the need for power.
Weekly natural gas prices broke down as the Feb contract fell nearly 9%. Prices broke through trend line support and appear to be headed for the 2016 lows near 1.61. Short term resistance is seen near the weekly breakdown level at 2.03.

Tags: TechnicalCommodityCommodity Outlook


Search Reports

SEARCH

Open an account

OPEN AN ACCOUNT

Reports

Daily Market Update...

Nifty opened down with a gap...

Read More

Daily Market Update...

Nifty opened higher but was...

Read More

Daily Market Update...

Nifty opened down with a gap...

Read More

Daily Market Update...

Nifty opened higher, on...

Read More

Daily Market Update...

Nifty opened up with a gap...

Read More

LTTS

SHORT TERM TRADING CALL: BUY...

Read More

Aegis Chem

SHORT TERM TRADING CALL: BUY...

Read More

CUB Q3FY20 RESULT UPDATE

CUB’sQ 3 FY 20...

Read More

SUNDARAM FINANCE Q3FY20...

Despite weak CV demand cycle...

Read More

PHOENIXMILLS Q3FY20...

Wehave valued PML using DCF...

Read More

Subscribe to newsletter

Request a call back

DISCLAIMER: This document has been prepared by Arihant Capital Markets Limited (hereinafter called as Arihant) and its subsidiaries and associated companies. This document does not constitute an offer or solicitation for the purchase and sale of any financial instrument by Arihant. This document has been prepared and issued on the basis of publicly available information, internally developed data and other sources believed to be reliable. Whilst meticulous care has been taken to ensure that the facts stated are accurate and opinions given are fair and reasonable, neither the analyst nor any employee of our company is in any way is responsible for its contents and nor is its accuracy or completeness guaranteed. This document is prepared for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The investments discussed in this material may not be suitable for all investors. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. Arihant Capital Markets Ltd (including its affiliates) or its officers, directors, personnel and employees, including persons involved in the preparation or issuance of this material may; (a) from time to time, have positions in, and buy or sell or (b) be engaged in any other transaction and earn brokerage or other compensation in the financial instruments/products discussed herein or act as advisor or lender/borrower in respect of such securities/financial instruments/products or have other potential conflict of interest with respect to any recommendation and related information and opinions.