Natural gas prices rallied last week, closing above $7.

The next target is the August high of $7.34

Also note that Natural Gas prices are within 7 cents of the 200 day moving average of $7.18

September Natural Gas Technical Levels:

Resistance: $7.192 and $7.210

Support: $6.58 and $6.532

The XNG Natural Gas Index is currently at 471.40, just below the 200 day moving average of 477.08

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 rebounded slightly on Friday to close the week at $6.77

Natural Gas Inventory Report 6-28-07

Working gas in storage was 2,443 Bcf as of Friday, June 22, 2007, according to EIA estimates. This represents a net increase of 99 Bcf from the previous week. Stocks were 90 Bcf less than last year at this time and 372 Bcf above the 5-year average of 2,071 Bcf. In the East Region, stocks were 136 Bcf above the 5-year average following net injections of 67 Bcf. Stocks in the Producing Region were 176 Bcf above the 5-year average of 677 Bcf after a net injection of 21 Bcf. Stocks in the West Region were 59 Bcf above the 5-year average after a net addition of 11 Bcf. At 2,443 Bcf, total working gas is within the 5-year historical range.

Natural Gas prices continued to slide on Tuesday, trading down 4% to close at $6.88

Natural Gas prices fell further on Monday, trading down 5.54% to close at $6.94

Natural Gas prices retreated last week and now sit at $7.35, just above the 200 day moving average of $7.28.