January NYMEX Natural Gas Futures Contracts Closed at $3.838 on Tuesday, December 18th

Tuesday, December 18th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.697, seventeen cents above Monday’s closing price of $3.528.  Slipping to the intraday low of $3.652 as markets opened, prices soon reversed direction and spiked to $3.790 ahead of 10:00AM.  With conditions shifting from overbought to oversold within the span of a week, it’s not too surprising to see traders taking advantage of the recently diminished contract.  Finding support near $3.740 for most of afternoon, January rose to the intraday high of $3.850 at 2:20PM before closing higher on Tuesday at $3.838.

This morning in Globex, WTI Crude was up 17 cents; Natural Gas was down 17 cents; Heating Oil was up one cent; and Gasoline was unchanged.  
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