Watch for natural gas to start its next leg up

Market Pulse for Oct. 1

With all of the hot air floating around Washington, D.C., we saw natural gas drop from $3.800 MMBtu in mid-September to test the waters below $3.500 for one day, Sept. 26. Last week November natural gas (NYMEX:NGX13) opened at $3.755 and closed the week at $3.589.

Also note moving a bit into the future demand for gas will increase as the U.S. becomes a major player in exporting liquid natural gas (LNG). Who ever thought the US would become a major exporter of energy? Sounds a bit weird doesn’t it? Look at the daily chart to see a new buy trigger.

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