In the early hours of Wednesday’s trading session, the natural gas market displayed signs of a modest recovery, marking a potential turnaround in what had been a notable correction.
Key technical indicators, specifically the 200-day Exponential Moving Average (EMA), appear to be providing a level of support, setting the stage for a retest of recent highs.
The 200-day EMA is emerging as a significant factor in stabilizing prices, and it’s likely to influence the market’s trajectory in the near term. The overarching sentiment points towards a scenario where natural gas demand is set to surge in the coming months. This uptick in demand aligns with seasonal patterns and augurs well for price appreciation.
Diversified Energy Company plc (LON:DEC), formerly Diversified Gas & Oil plc, is a gas and oil production company operating in the Appalachian Basin in the United States.