On September 12, I wrote, “Seasonality and the uncertainty of winter demand for the heating commodity mean that natural gas futures could experience a rally from October through the beginning of 2024.” The now active month November natural gas futures were at the $3.028 level in mid-September. The November futures have become the continuous contract over the past weeks, breaking out to the upside above technical resistance on October 5.
Trading natural gas, a highly volatile commodity is not for the faint of heart. As I wrote on September 12:
