NYMEX Futures Price Soars Again, Up 10.3 Cents to Important $3.85
In yesterday’s MDN post about the spike in the NYMEX futures price for natural gas, MDN told you that traders were targeting the next significant trading target to be $3.84/MMBtu (see Hot Weather Forecast Prompts NYMEX to Close Up 17 Cents @ $3.75). And guess what? We hit it yesterday, closing at $3.851/MMBtu (up 10.3 cents from the prior close). We also told you that traders expect the next important price point to hit after that would be a close of $4.08-$4.12. If we hit that level, what would be next? According to gas traders, the price would likely make a run at $4.46. Wow! Read More “NYMEX Futures Price Soars Again, Up 10.3 Cents to Important $3.85”