Natural Gas Futures--- Natural gas futures in the December contract settled last Friday in New York at 2.98 while currently trading at 3.21 up about 23 points for the trading week hitting a 6 week high all due to extremely cold temperatures in the Midwestern part of the United States.

If you take a look at the daily chart there is a price gap that was created last Monday at 3.00/3.05 as I do think there's a good chance that will be filled as I'm not involved in this market at the present time, however I do think a bottom was created on November 1st at the 2.84 level.

Natural gas prices basically have gone nowhere over the last 5 months with a couple of false breakouts as I do think a bottoming formation is at hand as we start to enter the extremely volatile winter season when prices can have tremendous price spikes to the upside due to record cold temperatures so take a look at the monthly chart & you will understand what I'm talking about.

Natural gas prices are now trading above their 20 and 100 day moving average telling you that the trend has turned higher as I will keep a close eye on this market as the energy sector as a whole has turned very bullish due to strong demand.

TREND: --HIGHER

CHART STRUCTURE: ---POOR

VOLATILITY: INCREASING

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