NATGASUSD Analysis
This analysis is for the next month to two moths over looking Natural Gas.
With the rises in Rig counts along the coasts of the United States, the U.S. rig count rises by 6 to 933 for a 22nd consecutive weekly increase, according to the latest Baker Hughes survey.
natural gas rigs added 1 to 186; last year at this time, there were just 337 active U.S. oil rigs and 86 gas rigs. That is an increase of 100 in the past year.
On the technical side of the current outlook, we are seeing a rebound off of two smaller trend lines forming a wedge as well as a bounce off of a larger support tend. CCI is bottomed and we see alot of fighting against the cloud.
With the rises in Rig counts along the coasts of the United States, the U.S. rig count rises by 6 to 933 for a 22nd consecutive weekly increase, according to the latest Baker Hughes survey.
natural gas rigs added 1 to 186; last year at this time, there were just 337 active U.S. oil rigs and 86 gas rigs. That is an increase of 100 in the past year.
On the technical side of the current outlook, we are seeing a rebound off of two smaller trend lines forming a wedge as well as a bounce off of a larger support tend. CCI is bottomed and we see alot of fighting against the cloud.
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