OCT 16 THURSDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 321 , S2 RS 318
R1 RS 327 , R2 RS 330
STAY SHORT AT RESISTENCE.
Natural Gas Falls on Concern Demand to Wane in
Slowing Economy .
Natural gas futures in New York fell for the first time in three
days on concern U.S. demand will weaken in a slowing economy.
Natural gas for November delivery fell 13.5 cents, or 2
percent, to settle at $6.592 per million British thermal
units at 2:59 p.m. on the New York Mercantile Exchange.
Prices are down 11 percent from a year ago and touched
a one-year low of $6.535 per million Btu on Oct. 10.
U.S. gas storage levels probably rose 80 billion cubic feet in
the week ended Oct. 10, according to the median of 13
analyst estimates compiled by Bloomberg. The average
change for the period is a gain of 63 billion.
Above-normal temperatures for much of the country are
expected through Oct. 24, the Climate Prediction Center in
Camp Springs, Maryland, said in a 10-day forecast released
yesterday.
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