{"id":114815,"date":"2017-10-16T10:01:50","date_gmt":"2017-10-16T14:01:50","guid":{"rendered":"http:\/\/countingpips.com\/?p=114815"},"modified":"2018-06-01T15:55:34","modified_gmt":"2018-06-01T15:55:34","slug":"natural-gas-technical-analysis-cold-snap-is-expected-in-the-us","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/natural-gas-technical-analysis-cold-snap-is-expected-in-the-us\/","title":{"rendered":"Natural Gas: Technical Analysis – Cold snap is expected in the US"},"content":{"rendered":"
October 16, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Cold snap is expected in the US<\/strong><\/p>\n

In the US, cold snap is forecasted at end of October 2017. Will there be an increase in the prices of natural gas<\/a>, which is widely used for heating?<\/p>\n

According to the Edison Electric Institute, the demand for electricity in the United States and its output increased by 3% in a week, which ended on October 7. This week, gas production in the US decreased to 72.2 billion cubic feet per day compared with 73.3 billion in the first week of October 2017 and a 2-year high of 74.8 billion cubic feet per day in late September. As reported by the U.S. Energy Information Administration, according to the results of this week, gas reserves in the US amounted to 3595 cubic feet. This is by 4% lower than the last year’s level. A small reduction in reserves may be caused by the growth of gas exports from the US this week to 8.5 billion cubic feet, which is by 67% more than a week earlier. It should be also noted that oil has risen by about 15% since July 1, 2017, and natural gas in the US \u2013 only by 3%. Meanwhile, these two assets move synchronously quite often.<\/p>\n

\"NATGAS\"<\/p>\n

On the daily timeframe, NATGAS: D1<\/b> overcame the resistance line of a downtrend and resumed the uptrend. It also exceeded the 200-day moving average line. The further price increase is possible in case of cold weather in the US and an increase in exports.<\/p>\n