Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Natural gas has been declining since 14th of October when it reached $3.4 per MMBtu, the highest level since 2014. We have called to go long the gas at $2.6 per MMBtu with targets around $3.1 per MMBtu and $4.3 per MMBtu. Other targets include $3.7 per MMBtu and $5.5 per MMBtu (longer term). So, when the price started declining after reaching our first target and more, we recommended buying at dips around $2.82 per MMBtu.
However, natural gas dipped more than that and tested support near $2.62 area before forming a hammer yesterday. The buying from $2.62 yesterday has pushed prices to as high as $3.1 per MMBtu. The natural gas is currently trading at $3.08 per MMBtu.
While, the current rise has all the elements necessary to move higher, today’s inventory report from the Energy Information Administration (EIA) would be crucial to watch out for. It would release the data for the week ending October 21st, last to last week of the injection period. Last week’s data showed 77 billion cubic feet built up, if today’s data turns out to be less, it would provide the gas additional wings.
