Natural Gas Technical Levels

Resistance #1 6.279

Resistance #2 6.320

Support #1 6.00

Support #2 5.588

Natural Gas Inventory Report 7-26-07

Working gas in storage was 2,763 Bcf as of Friday, July 20, 2007, according to EIA estimates. This represents a net increase of 71 Bcf from the previous week. Stocks were 6 Bcf higher than last year at this time and 384 Bcf above the 5-year average of 2,379 Bcf. In the East Region, stocks were 153 Bcf above the 5-year average following net injections of 59 Bcf. Stocks in the Producing Region were 176 Bcf above the 5-year average of 736 Bcf after a net injection of 9 Bcf. Stocks in the West Region were 56 Bcf above the 5-year average after a net addition of 3 Bcf. At 2,763 Bcf, total working gas is above the 5-year historical range.

Natural gas prices continued to slide on Tuesday, breaking technical support at the $6 level. August natural gas fell 2.9% to close at $5.863.

Natural gas prices are currently at a 10 month low.


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Natural gas prices slid further on Monday and are now testing critical support at the $6 level.

Natural Gas prices are currently consolidating near the lows set in January.

Natural Gas Inventory Report 7-19-07

Working gas in storage was 2,692 Bcf as of Friday, July 13, 2007, according to EIA estimates. This represents a net increase of 65 Bcf from the previous week. Stocks were 63 Bcf less than last year at this time and 365 Bcf above the 5-year average of 2,327 Bcf. In the East Region, stocks were 138 Bcf above the 5-year average following net injections of 48 Bcf. Stocks in the Producing Region were 171 Bcf above the 5-year average of 732 Bcf after a net injection of 7 Bcf. Stocks in the West Region were 55 Bcf above the 5-year average after a net addition of 10 Bcf. At 2,692 Bcf, total working gas is within the 5-year historical range.

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Natural Gas Inventory Report 7-12-07

Working gas in storage was 2,627 Bcf as of Friday, July 6, 2007, according to EIA estimates. This represents a net increase of 106 Bcf from the previous week. Stocks were 64 Bcf less than last year at this time and 374 Bcf above the 5-year average of 2,253 Bcf. In the East Region, stocks were 145 Bcf above the 5-year average following net injections of 70 Bcf. Stocks in the Producing Region were 175 Bcf above the 5-year average of 721 Bcf after a net injection of 29 Bcf. Stocks in the West Region were 54 Bcf above the 5-year average after a net addition of 7 Bcf. At 2,627 Bcf, total working gas is within the 5-year historical range.

Working gas in storage was 2,521 Bcf as of Friday, June 29, 2007, according to EIA estimates. This represents a net increase of 78 Bcf from the previous week. Stocks were 84 Bcf less than last year at this time and 364 Bcf above the 5-year average of 2,157 Bcf. In the East Region, stocks were 135 Bcf above the 5-year average following net injections of 54 Bcf. Stocks in the Producing Region were 170 Bcf above the 5-year average of 697 Bcf after a net injection of 14 Bcf. Stocks in the West Region were 59 Bcf above the 5-year average after a net addition of 10 Bcf. At 2,521 Bcf, total working gas is within the 5-year historical range.

Natural gas prices were down a penny in Monday's trading and settled at $6.764 per 1,000 cubic feet.

Natural gas prices currently have a Williams %R reading of -87.28.

Williams %R readings of -80 to -100 are considered oversold conditions.